TORONTO -- The Toronto Argonauts signed quarterback James Franklin to a two-year contract extension Friday.

The 26-year-old American was acquired last month in a trade with the Edmonton Eskimos.

"James is an outstanding young man and a great leader," Argos general manager Jim Popp said in a release. "We welcome him to the mix of talented quarterbacks we have on our roster and look forward to watching him compete."

The six-foot-two 225-pound Franklin made 12 appearances over three years with the Eskimos. He completed 116 of 176 pass attempts for 1,449 yards, 12 touchdowns and one interception.

Veteran quarterback Ricky Ray guided the Argonauts to a Grey Cup victory last year. The 38-year-old is taking some time this off-season to ponder his football future.

Ray has said if he does choose to continue playing, it will be with Toronto.