SOURCE: Djordje Mihailović to Toronto FC for Club Record Cash Transfer

Commerce City, CO – Sources tell Burgundy Wave that the club are negotiating to sell Djordje Mihailović to Toronto FC for a club record $8 million. This will be a cash transfer with incentives that could take the total value up to $9 million. There is a sell-on clause as well. This is a shocking turn of events that could derail the 2025 Rapids season.

Mihailović missed Colorado’s Leagues Cup match on Sunday due to personal reasons. That decision was made the day of the game. Rapids manager Chris Armas said postgame, “Djordje’s working through some personal reasons he’s working through right now. That’s something he’s working through. We’re behind him.”

Sources indicated Mihailović asked to leave and that was the reason for his omission in the squad. The Rapids Front Office and Head Coach Chris Armas made multiple attempts to change his mind. In hindsight, his performance at Philadelphia Union wasn’t great. He did play well against Santos Laguna. Perhaps this had been on his mind.

TFC are working on contract extension for the 26-year-old. Mihailović is currently the highest paid player on Colorado with a guaranteed compensation of $1.775 million. Toronto spends big and is looking to rebuild after the departure for two Designated Players. If they can pay Lorenzo Insigne $15.4 million to be a bust, they can certainly give him a bigger raise than Colorado could afford.

The Rapids acquired Mihailović from AZ Alkmaar in January 2024 for around $3.5 million. All competitions, he played 63 games, recording 23 goals and 18 assists. He broke the club record for goal contributions in the first two years. His short tenure at the club aside, he’s probably the best Designated Player in club history (Tim Howard and Carlos Valderrama were old when they played for the Rapids, fight me). He’s played so well as Colorado’s best player that he and his representation think he can do better. Did he have a falling out with Armas? Is this just about the money? Is it about winning? Is he frustrated with having to put the team on his back?

His market value is probably $5 million within the league. When you’re the Rapids, every player has a price. Bombito had a price last August. Sources tell BW that Colorado got more than his perceived value. It’s good Rapids Math and ownership sees it as a $3.5 million investment that more than doubled in value.

This is horrible timing for the club. There’s no other way to say it. It’s half way through the secondary window and your best player wants out. There have been games these last two years where the rest of the team was average to bad. Djordje goes on to have 2-3 special moments and that’s enough to get them a win. That’s gone now. Cole Bassett and Rafael Navarro have the keys to the offense. Ted Ku-DiPietro probably moves inside to play the No. 10.

There’s a real possibility this derails their season like the Moïse Bombito sale did last year. The Rapids Front Office hopefully is getting most of that money back to reinvest (still not sure they got all the Bombito money back from ownership). They now have an open DP/U-22 spot and money to sign Alexis Manyoma immediately. They could make other upgrades at midfield or fullback. Still, it will take time to secure those deals, get the players in market and acclimated.

Regardless, the window closes August 21. We’ve seen this movie before: MLS team sells best player for a bunch of money. They spend it immediately. Those replacements are good but take time to settle in. The team’s season fizzles out.

Even if they replace Djordje in the aggregate, at best they’re a first round exit in the playoffs this year. Continuity matters so much in MLS. The players they bring in with this money better hit next season. If not, it could set the club back years if its spent poorly.

Soccer careers are short. If Mihalović and his representation think he’s earned a raise or a move to a more ambitious club, so be it. If he doesn’t want to be here and you can get top dollar for him, that’s good Rapids Math even if it hurts your chances this year. Colorado’s ceiling is well known. Toronto’s rebuilding and spending big. They’ve won big before. Colorado would be lucky to make a final before Mihailović’s option year in 2028 ends.

As someone heavily involved in media access at the club, I don’t question Mihailović’s tenure in Colorado. He was a little prickly his first few months. It took awhile for him to get less awkward. He’s a mercurial at times derpy individual. He’s a meme. He says the quiet part out loud.

He had gotten used to his surroundings and seemed to be comfortable and happy here. He played good football and helped the team win. He was bought into what Armas was trying to build. He was bought in even if he didn’t express it outwardly in ways fans wanted him to. For a while. I can see why fans who felt in the past he didn’t want to be here now believe they were right watching his body language.

The move just bad timing given the circumstances. Let’s be real. He’s too good for the Rapids. He’ll get the bag in Toronto and have a decent chance at silverware.

Colorado’s done such a good job building the culture the last several years. They want players who want to be here. They can’t afford to have another Aignergate situation highjack a season. If Djordje doesn’t want to be here, regardless of why, move on. A lot of people are understandably shocked and upset right now.

The locker room has to feel abandoned. Pádraig Smith has to be frantically looking to get deals done. The fans will think this is the club admitting they care more about developing players to sell them rather than being ambitious. If that $8 million isn’t all spent on the team between this window and January, the fanbase could revert back to 2023 anger.

To say nothing of the irony that former Rapids manager Robin Fraser is getting a star No. 10 he never could have dreamed of getting when he was here. Also the club has to make a decision on Chris Armas’ future given he is out of contract.

Tom Bogert from Give Me Sports was first on this reporting, as you’re probably already aware.

Photo Credit: Mark Shaiken and Spencer Baldwin

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