Toronto FC signs Juventus midfielder Sebastian Giovinco

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Toronto FC has signed Juventus midfielder Sebastian Giovinco as a designated player, the club announced on Monday.

The team did not announce terms of the contract, but it was reported over the weekend that it was a four-year deal worth up to $7 million per season.

Giovinco, 27, will join Toronto after Juventus finishes its Serie A schedule. In six seasons with Juventus, he has scored 20 goals with 23 assists in 130 appearances across all competitions.

“I am excited to sign with Toronto FC today and look forward to joining the club this summer,” said Giovinco. “I have heard so many great things about Toronto over the years and I know that it will be a city that I feel right at home in. Until then, I have many things I still want to accomplish for Juventus and our fans. I will always give my heart and soul for Juve until I change shirts this summer.”

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Giovinco is the team's fourth designated player along with the recently signed Jozy Altidore, Michael Bradley and Gilberto. MLS teams are currently limited to three designated players so one of the current trio will need to be moved to make room for Giovinco. Gilbert is rumored to be the odd man out.

Giovinco is also a member of the Italian national team and has scored one goal in 21 appearances.

Toronto finished 11-8-15 and in seventh place in the Eastern Conference, missing the playoffs.

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