Out of contract at the end of the year, Orlando City signed midfielder Mauricio Pereyra to a new two-year contract, the team announced on Wednesday, extending the captain’s stay with the Lions through the 2024 season. The Lions used Targeted Allocation Money (TAM) for the signing.

“Mauricio has been our leader both on and off the field since he joined the club, and he did a fantastic job as captain for us last year,” Orlando City General Manager Luiz Muzzi said in a statement. “The example he sets with his professionalism and what he means to our group cannot be overstated. We’re so happy to have Mauricio back with us for the next couple of seasons.”

Pereyra, 32, made 39 appearances across all competitions for Orlando last season, finishing with a single-season team-record 12 assists to help lead the Lions to a U.S. Open Cup title and an MLS playoff berth for the third consecutive year.

What does this mean for Orlando heading into 2023?

For starters, signing Pereyra to a TAM deal frees up a Designated Player slot for the Lions.

Orlando also gets to have Pereyra’s services for at least two more seasons. It would be in the team’s best interest, however, to get a secondary No. 10 to rotate the Uruguayan ahead of a competitive 2023 with the regular season, Open Cup, CONCACAF Champions League, and Leagues Cup at various points in the coming year.

Pereyra was deployed at a deeper role late in the 2022 season, playing as a No. 8 while sliding former player Junior Urso as an attacking midfielder to allow Pereyra to pick pockets of space to serve the wingers or strikers.

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