Source: Veteran quarterback Kelly agrees to extension with Toronto Argonauts

TORONTO — Chad Kelly is remaining with the Toronto Argonauts.

According to a CFL source, Kelly and the Argos have agreed to a five-year contract extension. The CFL club has scheduled a news conference to make a “major announcement” Tuesday.

Kelly, 32, is in the final season of the three-year, $1.865-million extension he signed with Toronto during the 2023 campaign that made him the league’s highest-paid player at the time. The extension comes after talks between Kelly and the Argos reportedly were put on hold last month until season’s end.

Kelly was slated to become a free agent in the off-season. Financial details weren’t immediately known but Kelly is expected to surpass B.C. Lions quarterback Nathan Rourke (reportedly over $680,000) as the league’s top paid player.

Kelly is enjoying his best CFL season in 2026. The native of Buffalo, N.Y., has established career highs in passing yards (5,067) and touchdowns (33), but has also thrown a career-high 24 interceptions.

Kelly didn’t play in Toronto’s 33-16 home loss to Montreal on Friday in the regular-season finale for both teams. He suffered a knee injury in the Argos’ 40-39 loss to Ottawa on Oct. 16, but the expectation is he’ll start Saturday in the East Division semifinal versus the Winnipeg Blue Bombers.

Kelly joined the Argos in 2022 and helped the squad win the Grey Cup that year. He replaced an injured McLeod Bethel-Thompson in the fourth quarter as Toronto edged the Winnipeg Blue Bombers 24-23.

Kelly became the club’s starter the following season. He was named the league’s outstanding player after completing 270 of 394 passes (68.5 per cent) for 4,123 yards with 23 touchdowns and 12 interceptions while rushing for 248 yards and eight TDs — tied for second-most in the CFL.

Kelly won 15 of his 16 starts as Toronto (16-2) tied the CFL record for most regular-season victories and set a franchise record. He rejoined the Argos in 2026 after missing all of last season due to a leg injury suffered in the 2024 East Division final.

Nick Arbuckle replaced Kelly in Toronto’s 30-28 win over Montreal, then guided the Argos to their 41-24 Grey Cup victory over Winnipeg, earning game MVP honours.

Kelly is the nephew of Jim Kelly, the former Buffalo Bills star quarterback.

Kelly joined the Argos after spending time in the NFL with the Denver Broncos (2017-18) and Indianapolis Colts (2019-2020).

Denver selected Kelly with the final pick of the 2017 NFL draft out of Ole Miss.

This report by The Canadian Press was first published Oct. 26, 2026.

Dan Ralph, The Canadian Press