Toronto FC part with Lorenzo Insigne, Federico Bernardeschi

Toronto FC announced a mutual parting Tuesday with Italian forwards Lorenzo Insigne and Federico Bernardeschi.

Toronto used the two buyouts of guaranteed contracts that MLS clubs are allowed each season.

Both players joined the Reds as designated players midway through the 2022 season, Insigne from Napoli and Bernardeschi from Juventus. They were among the highest-paid players in MLS.

Bernardeschi, 31, tallied four goals and four assists in 15 MLS matches this season, bringing the 2024 All-Star's four-year totals with Toronto to 25 goals and 12 assists in 88 matches (87 starts).

"After internal discussions with Federico, we were aligned that this was the correct moment to part ways," Toronto general manager Jason Hernandez said. "We would like to thank Fede for his contributions to Toronto FC over the past three years and wish him the best in the next chapter of his career."

Insigne, 34, recorded one goal and three assists in 12 MLS matches this season, bringing his four-year totals with Toronto to 15 goals and 10 assists in 66 matches (56 starts).

"After several meaningful discussions, we are happy to have found a solution that is agreeable to all parties involved," Hernandez said. "We wish Lorenzo all the best moving forward."

Insigne was earning $15.4 million this season, second in MLS only to Inter Miami star Lionel Messi's $20.5 million, while Bernardeschi ranked sixth in the league at $6.295 million this season, per reports. Insigne's deal ran through June 2026 with an option for the remainder of that year, while Bernardeschi's contract covered 2026 and included options in 2027 and 2028.

Toronto (4-10-5, 17 points) currently sits 13th in the Eastern Conference, 11 points out of the playoff picture.

Bernardeschi, who has been linked to a move to Italian side Bologna, posted a farewell on social media.

"Every single day on the pitch, I gave everything I had. All my passion. All my drive. All of myself. I never held back," he wrote on Instagram. "I gave everything for this shirt, for this city, for its fans."

"Now a new journey begins for me," he added. "A new chapter, a new challenge. But the bond with this city, with its people, will forever live in my heart. Toronto FC, MLS: thank you for this extraordinary adventure. This is not goodbye. It's see you soon."

--Field Level Media