Lions, Reilly settle on contract, extend him through 2022

VANCOUVER β€” The BC Lions Football Club and Quarterback Mike Reilly have reached a contract settlement that has resulted in Reilly signing a new two-year deal that keeps No. 13 in orange and black through the 2022 season.


This is a companion discussion topic for the original entry at https://www.cfl.ca/2020/12/17/lions-reilly-settle-contract-extend-2022/

Good news!
I wonder if the new contract is re-structured down a bit??

Glad they worked it out.

I'm guessing they restructured the remaining 2 years of his contract in lieu of paying him all or most of the bonus he was due in 2020. Any other guarantee would be built in the final 2 years.

Amazing what can get done without people slagging each other in the media

Well done to all parties involved.

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This is great. Now we can watch the old guy getting clobbered 10 times a game for the next two years. See ya on the ground, Mikey.

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Per Lalji the breakdown is

Farhan Lalji (@FarhanLaljiTSN) / Twitter

525K in 2021 down from 725K. But will get a 350K signing bonus due in the new year
575K in 2022 down from 750K.

He will get the full 250K signing bonus he was due last year. Gets some more guaranteed money in exchange from a lower salary in the final 2 years.

Solid deal for both sides.

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So Reilly will be getting $600K ($250K + $350K) before he even shows up for camp! :flushed:

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Farhan's numbers are confusing. How can Mile Reilly receive $600,000. before playing a game, when, as per Farhan, he will receive a $350,000 signing bonus in early in 2021 and the other bonus of $250,000. in 2022. To me, it's $350,000 before playing a game and not $600,000.

As per his original contract, Mike Reilly was to receive $700,000. in 2021 and $700,000. in 2022, for a total of $1.4 millions.

As per the revised contract and based on Farhan's numbers, Mike Reilly will receive
$525,000. in 2021, including a signing bonus of $350,000. In fact, $175,000. less than original contract.

In 2022, Mike Reilly will receive $575,000. + owned $250,000. bonus of 2020, for a total of $825,000. More than the original contract by $125,000.

Revised less than original by $50,000.

Will other CFL players that did not receive their due bonuses in 2020, will ask that it be paid in 2022?

Mike Reilly can't complain.

Richard

The way

^^^^
Farhan says the $250K bonus would have gone against the 2020 cap
And because he lives just across the border in Washington State his tax burden would be substantilly less

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