Brandon Banks got a big deposit from the Ticats bank.
Banks signed a two-year extension worth $182,500 in year one and $195,000 for the second season – all hard money. For signing on the dotted line, Banks secures an $80,000 bonus along with $82,500 base salary and $20,000 housing.
But the key part of the deal: the Ticats can release Banks without paying him a dime anytime prior to training camp in 2020. He’s due $50,000 for reporting and passing his physical in May, but if Banks was cut he wouldn’t see that money or any of the $125,000 base salary or $20,000 in housing.
Banks was a 2018 CFL all-star finishing second in receptions (94) and yards (1,423) among all receivers and tied for first with 11 receiving touchdowns, elite receiving numbers. The “hard money” Banks is due to make puts him among the highest paid receivers in the league prior to the 2019 free agent market opening. Toronto Argo S.J. Green, B.C. Lion Manny Arceneaux, Edmonton Eskimo Derel Walker and Ottawa Redblack Greg Ellingson were in the $200,000 range or higher.
June Jones deserves a cut of Banks’ pay raise for moving him to receiver full-time, but either way “Speedy B” has assumed a place among the upper echelon pass catchers in the CFL.