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“After several meaningful discussions, we are happy to have found a solution that is agreeable to all parties involved," Toronto GM Jason Hernandez said in a brief statement Tuesday. 

The two Italian designated players arrived to much fanfare — with paycheques to match — midway through the 2022 season. But they could not return the club to its former glory.

Insigne, 34, was making US$15.4 million this season, second only to Lionel Messi's US$20.5 million. Bernardeschi, 31, was earning US$6.295 million this season, sixth-best in MLS. 

Insigne's contract ran through June 2026 with an option for the remainder of the year, while Bernardeschi's deal covered 2026 with option years through 2028.

It was not money well spent.

Toronto (4-10-5) currently sits 13th in the 15-team Eastern Conference, four places and 11 points below the playoff line, and 26th overall in the 30-team league. It has not made the playoffs since 2020, when it stumbled at the first hurdle.

Their departure means Toronto is without a designated player, with two such spots available.

Under MLS roster rules, a designated player aged at least 24 only carries a salary budget charge of US$743,750, no matter how much they are paid.

“The designated player strategy is a critical component to Toronto FC’s success in Major League Soccer and the club will continue to prioritize TFC’s short-, medium- and long-term strategy in the weeks ahead,� said MLSE president and CEO Keith Pelley.

Insigne scored 19 goals and added 18 assists in 76 games for Toronto across all competitions. That includes one goal and three assists in 12 appearances this season.

Bernardeschi scored 26 goals and added 22 assists in 99 appearances across all competitions. An all-star in 2024, he has four goals and four assists through 15 matches this season.

Bernardeschi offered a parting message via 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. "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."

Bernardeschi has been linked to a move to Italy's Bologna.

Insigne sat out the last two TFC games. He did not make it off the bench in a 1-1 draw with the New York Red Bulls and did not dress for Saturday's 3-0 win over Portland.

At the time, Toronto coach Robin Fraser said the club wanted to give other players a chance.

Toronto sat Insigne for the first four games of this season after failed attempts to move him to clubs in Italy, Spain, Turkey and Brazil. Insigne kept training with the first team while out of favour.

"It wasn't a happy time for me," he told °µÍø½ûÇø in May. "But I'm not going to keep thinking about it."

"I've always been happy here, and as long as my contract lasts, I'm going to do the best I can to make us win," he added.

The club eventually returned him to action, but with one goal and three assists in 12 league outings, he did not make much of an impact.

Bernardeschi has not played since May 24 when he picked up a fifth yellow card that earned him a one-game suspension. He missed the last three games with what Fraser described as a "lingering" injury.

At his best, the flamboyant Bernardeschi was a sight to behold, marauding down the wing and heading towards goal, looking to unleash his dangerous left boot. But with 26 yellow and four red cards in 88 league appearances, he was also volatile and somewhat unreliable.

Insigne showed only flashes of past brilliance that earned him the nickname "Il Magnifico." Injuries and family health issues did not help.

Unlike Bernardeschi, who was able to converse in English, Insigne's limited language skills meant his side of the story was rarely heard.

In May, however, he said he was going to finish out his contract. 

"With the money I earn, I could just sit down, I could have said, 'Who cares? I make a lot of money. I don't have to do anything,'" Insigne said in an interview with °µÍø½ûÇø. "But that's not who I am. I'm going to always, every day, come and work hard. And as long as my contract's here, that is my goal at the end — I'm here to work hard and respect everybody."

Hopes were high when the two made their debut in July 2022, when Bernardeschi scored one goal and set up another and Insigne collected a stylish assist in a 4-0 romp over expansion Charlotte FC.

The Italians' debut drew an announced sellout of 29,067, well above the average of 23,676 over the previous 11 home matches that season. Compare that to the 14,019 that Toronto drew this season for a 1-0 home loss to FC Cincinnati on May 14.

The two Italians reportedly bumped heads with former coach Bob Bradley. John Herdman, who succeeded Bradley. converted Bernardeschi to wingback with Fraser returning him to his more accustomed winger position.

Bernardeschi arrived with a Grade-A resume.

“We are thrilled to add Federico to our team,� said Bill Manning, TFC's president at the time. “As a player and a person, we believe he’s exactly what we need right now, both on the field and in the locker room. Federico has proven himself to be a champion and a leader at Juventus and for the Italian national team and brings a pedigree to Toronto that’s second to none."

Manning, fired by Pelley in July as president of TFC and the Toronto Argonauts, famously said he settled on insigne after seeing the local interest in Italy's run to the European championship.

"I actually went to the Transfermarkt website and I looked up the Italian national team on what players were coming out of contract," Manning told reporters. "And Lorenzo was one of the few players that was coming out of contract. I started writing down players that I thought were world-class, that I thought would have commercial value in this market."

Insigne arrived from Napoli, where he captained the side. He made a combined 416 appearances for the Serie A club, scoring 114 goals with 95 assists across all competitions.

He scored 10 goals in 53 appearances for Italy. But he never seemed to find a fit with Toronto.

Bernardeschi arrived from Juventus, where he had spent five seasons after joining from Fiorentina. He scored six goals in 38 appearances for the Italian national team, including the winning penalty in the shootout to seal Italy's win over England in the 2020 UEFA European Championship final (played in 2021).

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This report by °µÍø½ûÇø was first published July 1, 2025