Edmonton Elks, QB Cody Fajardo agree to restructured contract

The Edmonton Elks and Cody Fajardo have agreed to terms on a restructured contract for the 2025 season, per sources.

The 32-year-old enters training camp as the team’s backup quarterback behind Canadian Tre Ford.

Fajardo was acquired via trade from the Montreal Alouettes on Tuesday, December 17 with one year remaining on his existing deal worth $482,000. The Elks had a deadline to strike a new pact with the veteran that would allow him to co-exist with Ford’s rising salary prior to a $200,000 off-season bonus which was scheduled to be due on January 15.

The Brea, Cal. native spent the past two seasons with the Als, throwing for 6,952 yards, 30 touchdowns, 19 interceptions while rushing 108 times for 618 yards and six scores. He helped lead Montreal to a Grey Cup victory in 2023 when he was named the Most Valuable Player in the CFL’s championship game. However, the Alouettes elected to go in a different direction by extending young up-and-comer Davis Alexander.

Fajardo has dressed for 116 career regular season CFL games with the Toronto Argonauts, B.C. Lions, Saskatchewan Roughriders, and Alouettes, throwing for 17,998 yards, 83 touchdowns and 52 interceptions. He was named All-CFL with the Riders in 2019 when he led the league in passing yards.

The Elks made Fajardo the team’s top backup QB target, believing he could provide valuable mentorship for Ford after the Canadian signed a lucrative three-year extension to be the face of the franchise.