Announcement Saturday
This article first appeared on Dec. 28, 2021 and has since been updated with new information.
The rumors have been mounting for some time, and it now appears that Toronto FC have landed a major attraction for Major League Soccer. Multiple reports on Tuesday suggested that TFC have reached an agreement to sign Italian national team player Lorenzo Insigne from Napoli on a free transfer. On Tuesday, Fabrizio Romano reported that Insigne is seriously considering an offer by the MLS club. MLSSoccer.com and Waking The Read writer Michael Singh has suggested that a deal is done and will go through in June.
Toronto are ‘more than serious’ for Lorenzo Insigne, as reported days ago. They’re pushing. The official proposal has been discussed with Insigne’s camp.
€11,5m per season net salary plus €4,5m add ons. Five year deal. Insigne is seriously thinking about it. https://t.co/oiqmgDBvkc
— Fabrizio Romano (@FabrizioRomano) December 28, 2021
It is a potential mega-deal. Romano wrote that Insigne could earn $13 million a season with another $5 million in bonuses before taxes. According to The Athletic writer Paul Tenorio that would be about $28 million after-tax based on the tax rates in the Canadian Province of Ontario. It would be three times the salary earned by former MLS stars Kaká (Orlando City) and Zlatan Ibrahimović (LA Galaxy). Both made around $7.2 million a season.
Update Jan. 4, 2022: On Tuesday, Romano and Gianluca Di Marzio reported that Insigne has agreed to sign a five-and-a-half-year contract. Insigne is set to join the club as a free agent in July. The exact terms of the deal, however, still have to be announced and whether Insigne’s reported salary matches the data that the MLSPA will publish later this season.
Lorenzo Insigne from Napoli to Toronto FC, here we go and confirmed! Deal fully agreed, Lorenzo has accepted Toronto bid and he’s joining as free agent in July. #TorontoFC @SkySport
Deal to be signed within this week, as per @DiMarzio. Five-and-half year contract confirmed. pic.twitter.com/jUXbDouQF8
— Fabrizio Romano (@FabrizioRomano) January 4, 2022
Update Jan. 7, 2022: On Friday night, Toronto FC tweeted a cryptic tweet hinting that a transfer is indeed close. Transfermarkt understands that Toronto FC are expected to announce the Insigne transfer on Saturday. The winger will complete his season with Napoli before becoming the highest-paid player in MLS.
A deal of that magnitude would require approval by the league but MLS are unlikely to torpedo a deal that would bring a world star to the league. Although downgraded in the latest Serie A market value update, Insigne would still be the most valuable player in MLS with a market value of $38.5 million (overview).
Martínez, Mukhtar, Araujo & Co. – The 25 most valuable MLS players
Insigne to Toronto FC – MLSE significantly outbid Napoli
For Napoli, in the meantime, the transfer would be a significant loss. But the Azzurri can not compete with the money offered by TFC owner Maple Leaf Sports & Entertainment. “Napoli offer significantly less than his current salary, and his agent has complained about that fact many times, but the club has not been willing to compromise,” Italy Area Manager Jatin Dietl said. Napoli offered a basic salary of around €3.5 million (around $4 million). To put that deal in perspective, MLSE also owns the NHL franchise Toronto Maple Leafs and the highest-paid player on that team is Auston Matthews with a salary of $11.6 million before tax.
