Toronto FC announced Wednesday that the club has acquired $300,000 in allocation money ($200,000 General Allocation Money and $100,000 Targeted Allocation Money) and the first position in Major League Soccer’s Allocation Order from FC Cincinnati for defender Nick Hagglund and Toronto FC’s No. 24 position in the Allocation Order.

“This deal gives us flexibility on our budget both in the short and long term. In addition, the number one allocation ranking gives us the option of acquiring another player and/or asset either during this transfer window or in the summer,” said Toronto FC General Manager Ali Curtis. “On behalf of everyone at Toronto FC, we want to thank Nick for his contributions and we wish him the best as he moves back home to Cincinnati.”

Hagglund, 26, was selected in the first round (10th overall) in the 2014 MLS SuperDraft by Toronto FC. In five seasons with TFC, Hagglund made a combined 115 appearances (MLS Regular Season, MLS Cup Playoffs, Canadian Championship, Concacaf Champions League and Campeones Cup), adding six goals and six assists. Hagglund was part of Toronto FC’s 2017 treble-winning side and was part of two additional Canadian Championship winning sides (2016 and 2018) and two Eastern Conference Championships (2016 and 2017).

TRANSACTION: Toronto FC has acquired $250,000 in allocation money ($150,000 General Allocation Money and $100,000 Targeted Allocation Money) and the first position in Major League Soccer’s Allocation Order from FC Cincinnati for defender Nick Hagglund and Toronto FC’s No. 24 position in the Allocation Order.