Fulham’s deadline-day push for Ricardo Pepi ended in frustration after PSV Eindhoven pulled the plug on a €37 million move, leaving the Premier League side without the striker they had targeted to lead their attack for the rest of the season.
The USMNT forward was on the brink of a switch to Craven Cottage after both clubs agreed a substantial fee, but PSV halted the transfer on Monday morning when they failed to secure a replacement before the window shut.
The collapse came despite Fulham’s strong intent and advanced negotiations. The London club had moved decisively, tabling a bid of around €37m and reaching agreement on personal terms with the 23-year-old, who was keen on a Premier League challenge.
With the clock ticking down, however, PSV informed Fulham that the deal could not proceed. The late reversal left Marco Silva’s side with no realistic time to pursue alternative options, effectively ending their search for a new number nine.
The decision was driven entirely by PSV’s squad concerns. The Eredivisie champions were open to cashing in on Pepi but only if they could line up a reliable successor, a task that proved impossible in the closing days of the January window.
PSV remain locked in a domestic title race and are balancing European commitments, factors that weighed heavily on their thinking. Sporting director Earnest Stewart explored the market but, with proven strikers scarce in January, the club opted for stability over profit and vetoed the sale.
For Fulham, the outcome is a major setback. Fresh from securing Oscar Bobb to add creativity, Pepi was viewed as the final piece to elevate their push toward the European places.
Silva has repeatedly highlighted the need for greater cutting edge in the final third, and Pepi’s scoring form in the Netherlands made him an ideal fit. The failure to land their top target, after a fee had already been accepted, leaves Fulham relying on Rodrigo Muniz and Raul Jimenez for the run-in.
Pepi, meanwhile, remains in Eindhoven for the foreseeable future. While his long-term ambition to play in a top league is well known, the agreed fee suggests PSV are open to a future sale under the right conditions.
With the 2026 World Cup approaching, maintaining form and minutes will be crucial for the American striker. A summer move is still possible, but for now Pepi’s focus turns back to helping PSV chase silverware before the transfer spotlight returns.
