Toronto FC has always been known for its impressive roster and high salaries, and the 2023 MLS season is no exception. The Reds led by their superstar, Lorenzo Insigne, make a strong statement not only on the field but also off the field with their high salaries compared to other teams in the league.
The average base salary for a Toronto FC player in 2023 is $739,946, while the average guaranteed compensation is $887,652.76. The highest-paid player is Lorenzo Insigne, with a guaranteed salary of $7,500,000.00.
In this article, we will look closer at the Toronto FC salaries for 2023, including the highest earners and the average wage. Additionally, we’ll analyze the spending on the highest earners and see how it affects the team’s overall performance.
We will also explore how Toronto FC’s spending compares to other MLS teams and how the club is able to afford such a talented roster.
Table of Contents
- Toronto FC Salaries
- Top 3 Earners: Insigne the Second-Highest Earner in the MLS
- Spending Analysis on the Highest Earners
- Toronto FC Salaries Compared to Other MLS Teams
- Funding: How Toronto Can Afford The Roster?
Toronto FC Salaries
Here is a breakdown of the Toronto FC players’ base salary and guaranteed compensation.
Top 3 Earners: Insigne the Second-Highest Earner in the MLS
The top 3 highest-paid players of The Reds are:
- Lorenzo Insigne – $7,500,000
- Federico Bernardeschi – $6,295,381
- Jonathan Osorio – $1,400,000
1. Lorenzo Insigne – $7,500,000
Born on June 4, 1991, in Frattamaggiore, Italy, Insigne began his professional soccer career with Napoli in 2010 and quickly established himself as one of the team’s most promising young players.
Insigne has represented Italy at the international level since 2012, and has scored 10 goals in 54 appearances for his country. He has also won several team honors with Napoli, including the Coppa Italia and the Supercoppa Italiana.
In July 2022, it was announced that Insigne had signed a pre-contract to join Toronto FC on a four-year deal, beginning on July 1. His transfermarkt value is estimated at around €12 million at the moment of this writing, a decrease in value from the moment Toronto signed him which was around €20 million.
Insigne’s signing is seen as a major statement of intent by Toronto FC, as the team looks to compete for championships and establish itself as one of the top teams in MLS.
2. Federico Bernardeschi – $6,295,381
Bernardeschi, born on February 16, 1994, in Carrara, Italy, began his professional soccer career with Fiorentina in 2013 and has represented Italy at the international level since 2016, and has scored 7 goals in 31 appearances for his country. He has also won several team honors with Juventus, including the Serie A title and the Supercoppa Italiana.
In July 2022, it was announced that Bernardeschi had signed a pre-contract to join Toronto FC as a designated player through 2026, beginning on January 1, 2023. His current transfermarkt value is estimated at around €8 million.
3. Jonathan Osorio – $1,400,000
Jonathan Osorio was born on June 12, 1992, in Toronto, Canada. Osorio began his professional soccer career with Toronto FC in 2013. Since then, he has been with The Reds for over 10 years, showing not only his commitment to Toronto FC.
Osorio has also represented Canada at the international level since 2013, and has scored 8 goals in over 60 appearances for his country. He has also won several team honors with Toronto FC, including the MLS Cup and the Canadian Championship.
As a designated player, Osorio is one of the highest-paid players on the Toronto FC roster, with a salary of $1,400,000. His transfermarkt value is estimated at around €4 million.
Spending Analysis on the Highest Earners
As expected, the top three earners are to be the three designated players: Lorenzo Insigne, Federico Bernardeschi, and Jonathan Osorio.
When analyzing the overall percentage salary expenditure between these three players and the rest of Toronto FC’s players, the designated players are the equivalent of 59% of the whole roster’s salary! In other words, 3 players cost two-thirds of the whole team’s payroll!
This salary proportion between the designated and the rest of the players is similar to Chicago Fire with 58% of their payroll towards their 3 designated players. Other teams like Atlanta United have less than 45% on their roster salary towards their designated players.
Doing a further analysis of the percentage of the highest earner and superstar, Lorenzo Insigne in comparison and the rest of the team, the ex-Napoli player, accounts for 29% of the team’s salary! That’s almost a third of the whole roster compensation!
If we do another exercise and pair L. Insigne’s and F. Bernardeschi’s s salaries and get the percentage of the rest of the player’s compensation, we get interesting results. These two players account for a payroll of $13,795,381, while the rest of the players is $11,946,549. In other words, the two top earners represent more than 50% of the team’s salary.
Toronto FC Salaries Compared to Other MLS Teams
With a total salary of $25,741,930 for a roster of 29 players, Toronto FC is the highest-spending team in the MLS for the 2023 season. The team’s highest-paid player is Lorenzo Insigne, who earns a whopping $7,500,000 per year. Insigne’s salary makes him the second-highest earner in the MLS, behind only Chicago Fire’s Xherdan Shaqiri.
Despite being the MLS club with the highest investment in salary spending, the club hasn’t had a good start to the 2023 season in the Eastern Conference. After 14 games played, the Reds are in the last position of the conference with only 13 points and a goal difference of -5
While having a strong economic power to hire world-class players is seen as an advantage, that doesn’t necessarily guarantee titles and championships on a team.
Funding: How Toronto Can Afford The Roster?
Toronto FC is owned by Maple Leaf Sports & Entertainment (MLSE), which is a subsidiary of the Canadian telecom and media company Rogers Communications. MLSE also owns several other sports franchises, including the Toronto Maple Leafs (NHL) and the Toronto Raptors (NBA). The ownership group is known for its deep pockets and willingness to invest in its teams.
Additionally, designated player salaries are not subject to the MLS salary cap, which allows teams to pay top players higher salaries without violating league rules. Toronto FC has consistently been one of the highest-spending teams in the MLS, and has invested heavily in designated players such as Jozy Altidore, Alejandro Pozuelo, Michael Bradley, Lorenzo Insigne, and Federico Bernardeschi.
According to Sportico’s top 50 soccer teams valuation report, Toronto FC is valued at 705 million in 2023, making the Canadian team the 5th highest valued team of the MLS, with a 5 million valuation higher than D.C United.
In terms of funding the Canadian team generated $64 million in 2021-22 in revenue. Toronto FC generates revenue from a number of sources, including ticket sales, merchandise sales, and sponsorships. The team also benefits from MLS’s centralized revenue model, which includes revenue sharing from league-wide broadcasting deals and sponsorships.
Additionally, designated player salaries are not subject to the MLS salary cap, which allows teams to pay top players higher salaries without violating league rules. Toronto FC has consistently been one of the highest-spending teams in the MLS, and has invested heavily in designated players such as Jozy Altidore, Alejandro Pozuelo, Michael Bradley, Lorenzo Insigne, and Federico Bernardeschi
