Toronto FC ends failed Italian experiment, buys out Bernardeschi, Insigne next
Article content
But finally, the pain is over for long-suffering fans of the Reds. Federico Bernardeschi, who to be fair, at least tried and produced some results over the years, had his contract terminated on Tuesday, Toronto FC announced in a Canada Day news dump.
Article content
Article content
'After internal discussions with Federico, we were aligned that this was the correct moment to part ways,' Toronto FC general manager Jason Hernandez said in a statement. '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.'
Article content
The team used one of its two buyouts of a guaranteed contract on Bernardeschi.
Article content
'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,' MLSE president & CEO Keith Pelley said in the statement.
Article content
Bernardeschi, 31, made 88 MLS regular season appearances for the Reds since joining Toronto FC halfway through the 2022 season.He had four goals and four assists through 15 matches this season and was twice named to the MLS Team of the Matchday. In 2024, he was selected to participate in the 2024 MLS All-Star Game. In all, Bernardeschi recorded 26 goals and 22 assists through 99 combined appearances across all competitions (MLS, Canadian Championship and Leagues Cup) for TFC.
Article content
The Athletic and Canadian Press reported Tuesday that Insigne, one of the biggest busts in MLS history, will soon join Bernardeschi out the door.
Article content
He recorded only one goal and three assists this season and just four goals in each of the previous two seasons.
Article content
Only the great Lionel Messi makes more than Insigne's $15.4 million U.S. this season. Bernardeschi ranks sixth at $6.295.
Article content
Both had a year left on their contracts.
Article content
Article content
TFC is 13th of 15 teams in the Eastern Conference, well out of the playoff picture this season and has not made the post-season since 2020.
Article content
'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,' Pelley said of future moves.
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
22 minutes ago
- Globe and Mail
ServiceNow to Announce Second Quarter 2025 Financial Results on July 23
ServiceNow (NYSE: NOW) today announced that it will release financial results for the second quarter ended June 30, 2025, following the close of market on Wednesday, July 23, 2025. ServiceNow will host a conference call and live webcast to discuss the financial results. Conference Call Details The conference call will begin at 2 p.m. Pacific Daylight Time (21:00 GMT) on July 23, 2025. Interested parties may listen to the call by dialing (888) 330‑2455 (Passcode: 8135305), or if outside North America, by dialing (240) 789‑2717 (Passcode: 8135305). Individuals may access the live teleconference from this webcast ( An audio replay of the conference call and webcast will be available two hours after its completion and will be accessible for 30 days. To hear the replay, interested parties may go to the investor relations section of the ServiceNow website or dial (800) 770‑2030 (Passcode: 8135305), or if outside North America, by dialing (647) 362‑9199 (Passcode: 8135305). About ServiceNow ServiceNow (NYSE: NOW) is putting AI to work for people. We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit:
Globe and Mail
23 minutes ago
- Globe and Mail
D-Wave Quantum (NYSE: QBTS) Raises $400 Million Through Equity Offering
D-Wave Quantum (NYSE: QBTS) ('D-Wave'), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, has completed sales of $400 million in gross proceeds of its common stock under its previously disclosed 'at-the-market' ('ATM') equity offering program. The program, which ran from June 11 to June 27, closed at an average share price of $15.18. This represents a 149% premium over the $6.10 average share price for the sales under the company's prior $150 million ATM program completed in January. The Company intends to use the proceeds from this financing primarily for strategic acquisitions and general corporate purposes including additional working capital and capital expenditures. 'With what we believe to be the strongest balance sheet of any public, independent quantum computing company, we intend to invest in acquisitions and programs that will enable us to expand our already significant lead as the only commercial quantum computing company with applications in production,' said Dr. Alan Baratz, CEO of D-Wave. To view the full press release, visit About D-Wave Quantum Inc. D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. We are the world's first commercial supplier of quantum computers, and the only company building both annealing and gate-model quantum computers. Our mission is to help customers realize the value of quantum, today. Our quantum computers, the world's largest, are available on-premises or via the cloud, supported by 99.9% availability and uptime. More than 100 organizations trust D-Wave with their toughest computational challenges. With over 200 million problems submitted to our quantum systems to date, our customers apply our technology to address use cases spanning optimization, artificial intelligence, research and more. Learn more about realizing the value of quantum computing today and how we're shaping the quantum-driven industrial and societal advancements of tomorrow: Forward Looking Statements Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading 'Risk Factors' discussed under the caption 'Item 1A. Risk Factors' in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption 'Item 1A. Risk Factors' in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law. Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: Corporate Communications
CTV News
25 minutes ago
- CTV News
Ottawa's downtown office vacancy rate at 15 per cent through the spring
Ottawa's office vacancy rate improved slightly in the spring, with a new report suggesting there is demand for mid to large-sized office space in the core and in Kanata. CBRE Canada's second-quarter Canada Office Figures report shows Ottawa's vacancy rate dropped from 12.7 per cent in the January-March period to 12.5 per cent in the April-June period. 'Uncertainty regarding the economic landscape continued to obfuscate occupier decision making, although demand still exists for mid to large-sized space, as observed in the core and in Kanata,' the report says. The vacancy rate in downtown Ottawa was 15 per cent in the second quarter, while the office vacancy rate in the suburbs was 10.5 per cent. Toronto's downtown vacancy rate was 18.5 per cent in the spring, while Montreal's downtown vacancy rate was 18.6 per cent. CBRE Canada says 'sizeable deals' were reported at 160 Elgin Street in the spring, with the Royal College of Physicians taking 62,000 sq. ft. of space and Telesat occupying 28,000 sq. ft. of space. According to the report, there was 'notable activity within the submarket' in the spring, including the sale of a full vacant building on Solandt Road to the Manitoba Metis Foundation for potential owner occupancy and Mitel sublisting 33,000 sq. ft. of space on Innovation Drive. CBRE Canada says industrial construction 'has hit a peak' in Ottawa, with Amazon starting construction on their third distribution facility. That will add a proposed 3.1 million sq. ft. to Ottawa's future industrial inventory. 'While trade negotiations have resulted in some short-term supply and increased uncertainty, many deals are still being completed or remain in the pipeline,' CBRE said. The industrial vacancy rate in Ottawa was 2.2 per cent in the spring.
