The Edmonton Elks will have no time to rest in 2024, as head coach and general manager Chris Jones is staring down major roster decisions two weeks into the new year.
January 15 is the date circled on the calendar for the Green and Gold, with several key players due major offseason bonuses. Chief among them is quarterback Taylor Cornelius, who will collect a cheque for $100,000 if he remains on the team’s roster through that deadline.
The 28-year-old signal-caller was signed to a two-year contract extension in September 2022 after seizing the Elks’ starting job but was benched seven games into the 2023 season, finishing the year 103-of-175 for 1,305 yards, five touchdowns, and nine interceptions. This has placed the Elks in an awkward position, as the quarterback’s extension also guaranteed a $100,000 portion of his base salary in 2024.
With Canadian starter Tre Ford entering the final year of his rookie contract, keeping Cornelius on the roster is financially possible for the Elks. However, the team is reportedly pursuing the services of former Grey Cup-winning quarterback McLeod Bethel-Thompson, whose potential salary would not so easily co-exist with the incumbent backup.
While Edmonton could be willing to eat $100,000 in dead money on the salary cap to part with Cornelius, absorbing double that amount would be logistically challenging. That makes January 15 a critical benchmark for determining whether Chris Jones will land the 35-year-old veteran he covets.
Decisions outside the quarterback room will also play a factor. The Elks’ recent strategy of paying a premium for receivers could become less feasible with a big expenditure under centre and the team’s two highest-paid targets will both cash in at the same time as Cornelius.
Edmonton made Eugene Lewis the highest-paid receiver in the CFL last season at a whopping $320,000. He posted his worst season since 2018 by catching 48 passes for 844 yards and three touchdowns in 12 games but the soon-to-be 31-year-old is owed the same money next year, beginning with a $75,000 offseason bonus.
Fellow free agent signee Steven Dunbar Jr. struggled similarly in his first season with the Elks, notching 39 receptions for 536 yards and five touchdowns in 13 games. He was the third highest-paid receiver in the league last year and will receive a slight raise in 2024, starting with a cheque for $65,000 on January 15.
Both former all-stars could benefit greatly from stability at quarterback but their hefty price tags also represent two of the team’s largest expenditures. Thus far, the results have not justified the cost, raising serious questions about whether the current strategy is sustainable.
Other players scheduled to receive offseason money in Edmonton include defensive lineman Jake Ceresna ($50,000), offensive lineman David Foucault ($22,200), defensive back Scott Hutter ($20,000), and linebacker Adam Konar ($17,500). All told, the team will have nearly $350,000 in spending cemented into their 2024 salary cap if they begin the third week of January with no roster changes.
Bethel-Thompson earned $355,000 in hard money during the 2022 CFL season with the Toronto Argonauts, a year in which he led the CFL in passing yards with 4,731 to go along with 23 touchdowns and 15 interceptions. He helped the Argos win the 109th Grey Cup but exited the game in the fourth quarter after suffering a dislocated thumb.
With that production and the recovery of quarterback salaries following the COVID-19 pandemic, the five-year CFL veteran is likely due a pay raise after a season away in the USFL. If Edmonton wishes to land his services, Chris Jones faces a ticking clock to figure out how to free up that cash.
Edmonton has gone 8-28 since Jones returned to the team in 2022, including a 4-14 finish last year. The Elks open the team’s 75th anniversary season on Saturday, June 8 by hosting the Saskatchewan Roughriders.
