Breakdown of Cody Fajardo’s 2026 CFL contract with the Edmonton Elks

Cody Fajardo has acknowledged that his new deal places him toward the lower end of the pay scale among starting CFL quarterbacks, and the financial details support that assessment.

The Edmonton Elks quarterback signed a one-year extension that includes a $190,000 signing bonus and a $135,080 base salary. His contract also features $35,000 in marketing compensation, a $20,000 travel allowance, and $15,420 in housing, bringing his guaranteed earnings for 2026 to $395,500.

In addition, Fajardo can earn up to $52,000 in performance incentives, pushing his maximum value to $447,500.

Those bonuses include $1,111.11 per game for being on the active roster (up to $20,000), $10,000 for reaching 4,300 all-purpose yards, $10,000 for throwing 25 touchdowns, $7,000 for finishing among the top four in passing yards, and $5,000 if he is named the CFL’s Most Outstanding Player.

The 33-year-old earned significantly less in 2025, making $180,000 in guaranteed money as a backup before adding $46,000 in bonuses, finishing the season at $226,000. After accepting a pay cut last offseason, Fajardo now has the opportunity to recoup that loss and more as Edmonton’s clear-cut starter heading into 2026.

During his time as Montreal’s starting quarterback, Fajardo earned over $400,000 in both 2023 and 2024. Those seasons included a Grey Cup victory and the league’s best regular-season record, which he used as reference points in negotiations with Elks general manager Ed Hervey.

Despite his experience, Fajardo’s 2026 compensation trails several other starting quarterbacks, including Nathan Rourke (B.C.), Chad Kelly (Toronto), Zach Collaros (Winnipeg), Vernon Adams Jr. (Calgary), Bo Levi Mitchell (Hamilton), Dru Brown (Ottawa), and Trevor Harris (Saskatchewan). His highest-paying season came in 2022, when he earned $481,000 with the Roughriders.

On the field, Fajardo went 6–7 as a starter for Edmonton in 2025, taking over after a 1–4 start under Tre Ford. He completed 73.2 percent of his passes for 3,408 yards, throwing 14 touchdowns against seven interceptions, while adding 319 rushing yards and seven rushing scores.

Across his nine-year CFL career, Fajardo has completed 71.3 percent of his passes for 21,406 yards, with 97 touchdowns and 59 interceptions, compiling a 49–36–1 regular-season record. He has also rushed for 2,810 yards and 48 touchdowns, averaging 5.1 yards per carry.

Edmonton finished fifth in the West Division in 2025 with a 7–11 record, missing the playoffs for a fifth consecutive season. The Elks ranked ninth in both net offence and net defence, while posting a plus-four turnover differential.

Justin Rankin led the team in rushing, Kaion Julien-Grant topped the receiving charts, and Joel Dublanko led the defence in tackles. Average home attendance dipped to 19,050, a 7.1 percent decline from the previous year.