The B.C. Lions re-signed veteran quarterback Travis Lulay on Monday, a day before he was eligible for free agency.

Lulay, the CFL's outstanding player in 2011, enters his eighth season with B.C. He's currently third in team history with 16,960 passing yards and 101 touchdown passes.

"I have truly loved every moment of my time with the Lions and I'm ecstatic to be staying in B.C.," Lulay said in a statement. "We have great opportunity to be a very competitive team in 2016 and I'm excited to get to work."

Lulay appeared in 10 games last season, completing 167 of 266 passes (62.6 per cent) for 1,953 yards with 12 TDs and 10 interceptions. But he lost his starting job late in the year after suffering a knee injury.

'Strength and depth at the quarterback position is vital to any team's success. Travis gives us all the qualities that you want in a quarterback.' - Lions coach/GM Wally Buono on re-signing Travis Lulay

Lulay, 32, is expected to mentor youngster Jonathon Jennings, who assumed starting duties after backup Jon Beck was hurt. Jennings threw for 2,004 yards with 15 TDs and 10 interceptions in guiding B.C. (7-11) to the third and final West Division playoff spot.

Lulay has been with B.C. since '09 and led the franchise to a Grey Cup title in 2011, earning game MVP honours. He has amassed a 39-26 record in 65 career starts with B.C.

"Strength and depth at the quarterback position is vital to any team's success," Lions coach/GM Wally Buono said. "Travis gives us all the qualities that you want in a quarterback.

"He's a leader and a competitor and I am looking forward to seeing him along with Jonathon Jennings and Greg McGhee come to training camp and lead our club."