Banks restructures deal with Ticats, could return soon

Sources say return man Brandon Banks has restructured his contract with the Hamilton Tiger-Cats, the strongest indication yet the diminutive return man could return to action soon.

Banks has yet to report to training camp and remains in the U.S. dealing with a family law situation. The new deal has the same term as the old one and runs through the end of the 2017 season but provides Banks with more up front money while giving the Ticats some cap relief. The net amount Banks receives is the same.

A number of CFL players restructured their deals in similar fashion this off-season to take advantage of a provision in the Canada-U.S. income tax treaty that allows international players who maintain a permanent residence south of the border to be taxed just 15 per cent on any signing bonus – much less than their usual Canadian tax rate.

Banks’ absence was not related to the contract talks and sources say this was not a holdout by the 2015 Most Outstanding Special Teams Player – a point Banks himself made on Twitter.

I never hold out don’t believe it!

— brandon banks (@speedybanks87) June 9, 2016

But the fact the Ticats were willing to redo Banks’ deal is a strong indication they expect him to be in camp shortly, perhaps as soon as next week.