The 32-year-old joins coach Bruce Arena's side as a free agent, after Toronto FC exercised its one allowable offseason buyout of a guaranteed contract. Sources told ESPN's Jeff Carlisle that the Reds are paying Altidore $4.5 million to be rid of their financial obligations to the player, whose total compensation in 2021 was $3,602,250, according to the MLS Players Association.
He will earn $5m over the next three years on a Targeted Allocation Money deal in New England, sources said. The Revs said in a statement that Toronto will pay a portion of Altidore's salary in 2022 and 2023.
"We welcome Jozy Altidore to the New England Revolution," Arena said in a statement. "Jozy is a player we know well and feel confident that he will be an excellent addition to our team. I believe Jozy can continue to be an outstanding goal scorer, and we will work hard to get him back to full fitness and in good form over the next couple of months."
Altidore has appeared in just 29 of Toronto's 67 league matches across the past two seasons, suffering from myriad injuries and being frozen out of the first team by former TFC manager Chris Armas after an altercation in May 2021. In those two seasons, he played 1,513 minutes, scoring six goals and adding an assist.
"I am excited to begin this next chapter with the Revolution and look forward to competing for trophies in New England," Altidore said in a statement. "I am grateful for this opportunity to reunite with Bruce Arena and look forward to getting to work with my teammates immediately."
Altidore is the third current or former U.S. international to join Arena's Revolution this offseason. In December, New England traded for LA Galaxy midfielder Sebastian Lletget, and a week later signed center-back Omar Gonzalez on a free transfer from Toronto.
New England won the Supporters' Shield for the best record in the regular season in 2021, setting a league record for most points in a season along the way, but was eliminated in the conference semifinals of the MLS Cup playoffs.
Altidore's 16-year professional career has included stints with the New York Red Bulls, Villarreal, Hull City, Bursaspor, AZ Alkmaar and Sunderland, among others. He's made 115 appearances for the USMNT since debuting in 2007, scoring 42 goals in the process.