Fulham target Ricardo Pepi
ARNHEM, NETHERLANDS. Ricardo Pepi during the match between Vitesse and FC Groningen at GelreDome. Fulham aren’t giving up on target.
Fulham’s failed move for Ricardo Pepi has already become one of those transfer stories that does not fully go away once it collapses.
The Premier League club had agreed a deal with PSV in March. The package was reported at €40m (£34.4m) including bonuses. Pepi travelled to London for medicals and the move looked on track.
Then it fell apart late in the process because the two clubs could not agree on when responsibility for the striker would officially pass from one side to the other. That detail proved decisive, and the transfer was called off.
As we covered at the time, Pepi was left “severely disappointed” by Fulham. However PSV technical director Earnie Stewart also made clear a future deal should not be ruled out.
This detail is key for our last update from the Netherlands.
The striker is not a player trying to force his way out of Eindhoven at all. He signed a new PSV contract until June 2030 last year. The Dutch club are still in a strong position.
For Fulham, then, this is not simply about returning with the same money. They cannot expect everything to click back into place.
Roller coaster season gives context
Ricardo Pepi first reflected on the season when he was asked how he looked back on the campaign and what stood out for him.
He gave an interview to Dutch outlet Voetbal International while celebrating PSV’s Eredivisie title. It was a league campaign in which he contributed 10 goals in 21 appearances.
“Yeah, I think it was a little bit of a roller coaster,” he said. “I had some unfortunate injuries, of course, but at the end of the day it’s not normal to come back from two or three injuries in a season and still perform.”
He continued: “So I feel like I’ve had an overall decent season. Just remembering all the Champions League goals I scored this season, I think those are special, of course, but winning this trophy is obviously even more special.”
In other words, Fulham are not dealing with a player who needs rescuing from a bad situation. The failed transfer looks like water under the bridge.
Moreover, they are dealing with a striker who made his mark while dealing with serious injuries. He is now ending it with silverware.
The key answer for Fulham
Ricardo Pepi was then asked directly about the transfer rumours. More specifically, the interviewer asked whether this felt like a goodbye, or whether he could still think, “maybe next year, PSV, why not?”
That framing is important, because his answer was not a random comment about the future. It came after a clear prompt about whether he was leaving or staying.
Pepi said: “Yeah, it’s difficult to say. Of course, at the moment I’m still with PSV, so as of now, I’m still back next year. We’ll see what happens. I’m really focused on finishing the season strongly and then seeing what comes up in the summer.”
He does not shut the door on a move and he does not rule out Fulham, or any other option, for the summer. At the same time, he offers no warmth towards a revived transfer either.
That is where the earlier disappointment becomes relevant. Fulham may still have a path back in. However, Pepi’s tone suggests they would have to rebuild confidence around the deal.
He is not presenting himself as a player waiting for that move to be rescued.
Ricardo Pepi is well settled in Eindhoven
Ricardo Pepi’s final answer was lighter, but it also needs the question around it to make sense.
He was asked whether he had learned any Dutch words, and which word he had heard the most during the celebrations.
Pepi replied: “Oh man, I know a few Dutch words. I’ve been here for three, three and a half years, so I pretty much understand every single Dutch word. Speaking it is a little bit difficult, but yeah, I know a lot for sure.”
That may seem minor, yet it reinforces something important for Fulham. Pepi sounds settled and comfortable in the Netherlands. He sounds like someone who has built a proper place for himself at PSV.
That does not mean he will stay, but it does add to the wider picture.
Fulham would not be trying to sign a player frustrated with his surroundings or eager to escape. They would be trying to sign one who seems happy where he is, valued by his club, fresh from a title, and still under contract until 2030.
So while the old deal may not be dead forever, Fulham would now be trying to sign a player who no longer has any reason to see Craven Cottage as the obvious next step.