Arbuckle is out as QB, Matt Nichols in

Fiscal realities mean Arbuckle is out and Nichols is in on a dizzying day in the CFL

It was about as big a one-two punch as RNation could imagine, a stunning early Sunday evening announcement that will surprise some and anger others.

While releasing quarterback Nick Arbuckle, the Ottawa Redblacks also announced they will move forward with veteran quarterback Matt Nichols, signed to a deal hours after he was released by the Toronto Argonauts. TSN's Farhan Lalji said Nichols would get close to $200,000 in a signing bonus, with his total salary at about $320,000.

The Redblacks also restructured the contract of receiver Brad Sinopoli and will keep him through the 2021 season.

Not wanting to pay Arbuckle a $150,000 roster bonus he was due Monday, the Redblacks tried to restructure the contract, which was supposed to pay the quarterback up to $495,000, including incentives, for the 2021 season.

But it didn't work out. TSN's Matthew Scianitti was reporting Sunday that Arbuckle has signed with the Argonauts, who released Nichols rather than pay him $220,000 in up-front money he was due Monday.

For those wanting to dump on Redblacks general manager Marcel Desjardins, turn the clock back a year in your mind. If the Redblacks had announced they'd signed Nichols to be their starting QB, replacing Dominique Davis, would you have been happy?

The answer is probably yes. Some of the criticism of Davis may have also been unfair, given the team didn't have an offensive co-ordinator. But that's another story.

So how does this make dollars or sense?

A year ago, the Redblacks swapped first-round draft picks with the Calgary Stampeders and also gave up a third-round pick to acquire Arbuckle.

Why would the Redblacks let a guy they had paid such a steep price for simply walk away?

Bottom line: Don't put too much stock in high CFL draft picks. It's not like the NFL or the NBA or the NHL, where the best prospect goes No. 1.

Last year's “best” prospect, Neville Gallimore, is a defensive lineman for the NFL's Dallas Cowboys.

Then there's money. It sucks for Arbuckle and for any CFL player taking a pay cut. But the reality is a lost 2020 season because of the COVID-19 pandemic was devastating for CFL teams who lost millions and are looking to significantly restructure contracts of higher-paid players.

While the salary cap is set at $5.35 million for 2021, teams are looking to spend much closer to the $4.75-million cap floor mandated by the collective bargaining agreement.

So the Redblacks are looking to find $600,000 in savings. Several players are already paid somewhere near the league minimum of $65,000. And you can't find significant savings chopping the salaries of your guys who are making $90,000.

So that put a bull's-eye on the back of Arbuckle, by far the Redblacks' highest-paid player.

It's believed the Redblacks' initial offer was in the $310,000$315,000 per season range. One concern with paying Arbuckle a lot of money had to be his limited CFL experience — just seven games as a starting quarterback, when he completed 174 passes for 2,103 yards and 11 touchdowns in 2019.

People will ask, why not give Arbuckle a few extra dollars? Why not keep him?

Good questions.

Some people won't like the song and dance, but maybe the Redblacks — especially head coach Paul LaPolice, who would know — believe their Plan B, Nichols, is a good option. The soon-to-be 34-year-old would be comfortable in the offensive scheme of LaPolice. Nichols played five of his eight CFL seasons in Winnipeg, with his first three with Edmonton. In

114 games, he has completed 66 per cent of his passes for 18,363 yards and 108 touchdowns.

In 2019, he was having a very good season with the Bombers, completing 171 of 240 passes for 1,936 yards and 15 touchdowns before shoulder surgery sidelined him for the remainder of the year.

If you think that 34 is too old, Edmonton Football Team starter (and former Redblack) Trevor Harris is 35 and B.C. Lions starter Mike Reilly is 36. Then there's Henry Burris, who led the Redblacks to a Grey Cup at age 41.

A year ago, Nichols signed a contract with the Argos that would have paid him $344,000 ($220,000 up front on Feb. 1) in hard money, plus bonuses that could have brought him up to a total salary of nearly $500,000.

He won't make anywhere near that in Ottawa — a sign of the times.