Toronto's transfer window activity is not over yet, with the club's latest attempt at reinforcement seeing a loan offer for Santiago Solari rejected by Argentine side Racing, according to TyC Sports.

Per the report, the Reds' offer consisted of a fixed $250,000 USD fee for a one-year loan, alongside an obligation to buy at $2.5 million USD should certain criteria be met, plus a 10% sell-on clause for the Argentine club.

Racing considered the loan fee too low, and should Toronto increase its offer, negotiations could resume.

The 28-year-old Argentine forward has seen his minutes decrease at the Avellaneda club since the World Cup break, losing his starting spot in the process. He featured for just 55 minutes across two of the club's last three matches.

In the Apertura season, played from the start of the calendar year through to the World Cup, Solari featured in 20 matches, contributing two goals and four assists. He joined Racing in late 2023 from fellow Argentine side Defensa y Justicia, going on to score 15 goals and register 15 assists in 107 appearances.

Solari's primary position is on the right, where Theo Corbeanu plays.

Toronto sits 11th in the Eastern Conference, just three points off the last playoff spot.

Up next for them is a visit to Florida to take on Inter Miami this Saturday (7:30 pm ET / 4:30 pm PT).