Inter Miami confirm Federico Redondo signing: what is the MLS U22 Initiative?

Inter Miami continue to strengthen their roster for the 2024 season, in which they will hope to challenge to win multiple competitions, including the MLS Cup and the CONCACAF Champions Cup. The latest arrival at Chase Park is Federico Redondo, who has links to Real Madrid and will add quality in midfield.

The Herons officially confirmed the signing of the 21-year-old Argentine on Friday, ending speculation that the move was about to follow through. Redondo adds to the ever-growing South American contingent in Florida, headed, of course, by Lionel Messi and Luis Suárez.

The youngster, who came through the ranks with Argentinos Juniors in his homeland, has already been in Miami for a couple of days, finalising the terms of his contract with his new team.

Redondo signs as U22 Initiative player: what is it?

According to the Inter Miami Communications Department, Redondo has signed a three-year deal with the club having the option of an extra year. The Herons already revealed the midfielder would join the club as a U22 Initiative player and a replacement for compatriot Facundo Farías, who is expected to miss the entire season.

Since 2021, the U22 Initiative has allowed MLS clubs to sign three young players under the age of 22 on lucrative contracts but with reduced budgets charges. According to the league, the scheme is designed to “foster the growth of young players and decrease roadblocks for clubs interested in signing them,” as well as “decrease the risk associated with acquiring or retaining players who are still approaching their prime”.

How much have Inter Miami spent on Redondo?

Although the official transfer fee hasn’t been made public, various reports, including from transfer expert Fabrizio Romano, claim the deal is worth $8 million and includes a sell-on clause which will ensure Argentinos Juniors get 15% of any future transfer free.

Redondo may not be last Inter Miami signing

Speaking for the first time as an Inter Miami player, Redondo, the son of former Real Madrid and Argentine midfielder Fernando, talked of his excitement at joining an ambitious club that is growing at a rapid rate, as well as his eagerness to play alongside some illustrious figures.

“I am really happy to join a club that is growing so much. It is a great opportunity to play with top-level players. I can’t wait to get going with my new teammates. You have to go step by step, but always dream big,” Redondo said.

Redondo joins Luis Suárez and Nicolás Freire as new signings for 2024. There could yet be more arrivals in Miami, according to head coach Gerardo “Tata” Martino, although others players would have to follow Gregore, who recently joined Brazilian side Botafogo, out the door first.