Toronto FC has terminated the contracts of Italian forwards Lorenzo Insigne and Federico Bernardeschi by mutual agreement, immediately freeing both players to sign elsewhere. The club used its two permitted buyouts of guaranteed deals under Major League Soccer rules, removing the pair from its wage bill and roster. Insigne, 34, was earning US$15.4 million this season—second-highest in MLS behind Lionel Messi—while Bernardeschi, 31, was on US$6.295 million. Their combined US$21.6 million compensation exceeded the total payroll of most MLS clubs and had weighed heavily on a side that has missed the playoffs every year since their joint arrival in mid-2022. On the field, the high-profile signings failed to spark a revival. Insigne departs with 19 goals and 18 assists in 76 appearances across all competitions, including one goal and three assists in 2025. Bernardeschi leaves after contributing 26 goals and 22 assists in 99 matches; he last played on 24 May and was serving a one-match suspension when sidelined by injury. Toronto sits 4-10-5, 13th in the Eastern Conference. The exits open two Designated Player and international slots ahead of the MLS secondary transfer window that begins 24 July, giving general manager Jason Hernandez scope to reshape the squad. Bernardeschi is already in advanced talks with Serie A side Bologna, while Insigne also becomes a free agent.