Toronto FC completed a previously reported cash-for-player trade for Colorado Rapids midfielder Djordje Mihailovic on Thursday.

Toronto FC have acquired attacking midfielder Djordje Mihailovic in a trade with the Colorado Rapids for $8 million, the teams announced Thursday. The cash-for-player exchange includes another $1 million if certain performance goals are met.

Toronto FC has acquired Djordje Mihailovic from the Colorado Rapids in a cash deal worth up to $9 million (all figures in U.S. dollars), hoping the attacking midfielder will help revive its attack. The transfer cost Toronto $8 million with up to $1 million in conditional cash if certain performance-based metrics are met.

Toronto FC have made a significant move in their bid to replace departing stars Lorenzo Insigne and Federico Bernardeschi, as they have completed a deal for Colorado Rapids star Djordje Mihailovic, reportedly splashing $8m plus on the American attacker.

The club is finalizing a deal to send star midfielder Djordje Mihailovic to Toronto FC, sources told The Denver Post on Monday. The deal is a cash transfer — a new mechanism for intra-league transactions this year — worth a club-record $8 million and up to an additional $1 million in performance incentives.

Toronto FC are making a splash by acquiring star midfielder Djordje Mihailovic from the Colorado Rapids for an $8 million transfer fee, GiveMeSport reported Monday.

USMNT midfielder Djordje Mihailovic has joined Toronto FC from Colorado Rapids in the second-largest cash-for-player trade in MLS history