The Calgary Stampeders signed quarterback Jake Maier to a contract extension through the 2024 season on Tuesday.

TSN's Farhan Lalji reports Maier's new deal will pay him close to $425,000 in hard money in 2023, and up to $460,000 with playtime incentives in 2023. In 2024, he will earn $389,000 in hard money and up to $425,000 with incentives.

The move puts Bo Levi Mitchell's future in Calgary further in question after he was demoted to the backup role behind Maier earlier this season. 

"Jake's play has been very consistent and, for a young quarterback, he's been very efficient," said Stampeders president and general manager John Hufnagel. "Like any young player, he still has room for more improvement but we believe he has a very bright future. It was important for the organization to get this extension done before the end of the season and we're pleased that Jake has made this commitment to the team.

"In regards to Bo Levi Mitchell, we plan to speak to him at the conclusion of the season and we're keeping all options open. Bo has been a tremendous player for the Stampeders for a long time and he has continued to be a great teammate and a great leader."

Maier has made five starts this season, completing 76.4 per cent of his passes for 1,526 passing yards with nine touchdowns and two interceptions. He was named a CFL top performer for Week 16 after throwing for 294 yards with no interceptions in Saturday's 25-11 victory against the BC Lions.

He replaced Mitchell as the team's quarterback in their Week 11 win over the Toronto Argonauts and has held the starting role since, helping the Stampeders to a 4-2 record over that time.

"I thank the Stampeders for the opportunity to continue my career in Calgary," said Maier. "Amanda and I love being here and we look forward to creating more memories with our great fans. I am very excited for the future of this franchise and promise to do everything we can to deliver more championships to this great city."

Maier, who made three starts for Calgary as a rookie last season, has thrown for 2,864 yards with 14 touchdowns and five interceptions over his CFL career.