PSV block Fulham’s €35m Pepi move as January exit ruled out

PSV Eindhoven were only ever going to sanction Ricardo Pepi’s deadline-day exit if a “prince on a white horse” arrived to replace him — and Fulham found out the hard way that football transfers don’t do fairytales.

Despite pushing their bid to around €35million, Fulham were unable to prise the striker away from Eindhoven in the final hours of the January window. According to respected Dutch journalist Rik Elfrink, the money was tempting, but the timing made the deal impossible.

In short: PSV would not weaken themselves without an immediate solution lined up. And on deadline day, that solution never came.

Ricardo Pepi has been on Fulham’s radar for weeks, with the Premier League side undeterred by the fact the American forward is currently sidelined with a broken arm.

Fulham continued to raise their offer, convinced PSV would eventually cave. Voetbal Zone, relaying Elfrink’s comments to Eindhovens Dagblad, report that PSV initially resisted before beginning to waver as the figures climbed.

The final proposal — believed to be €35m — forced a definitive decision.

Pepi was not for sale.

Elfrink used a striking metaphor to explain PSV’s stance.

For Pepi to leave in January, the club would have needed a ready-made replacement to arrive immediately — a “prince on a white horse” — and that scenario was never realistic so late in the window.

“Bringing someone in now is often incredibly expensive,” Elfrink explained, highlighting the distorted economics of deadline-day deals.

PSV concluded that accepting Fulham’s money without securing a replacement would do more damage than good, particularly with domestic and European objectives still in play.

From Fulham’s perspective, this was a rare case of money not being enough. Their persistence suggested confidence that a breakthrough was coming, but PSV ultimately retained control of the situation.

The decision also underlines PSV’s broader strategy. While open to selling Pepi, they are determined to do so on their terms — not under deadline pressure and not without time to plan.

That approach has immediate consequences for Fulham, who leave the window without the striker they chased hardest.

Looking ahead, PSV are far more open to a summer exit. The club are believed to value Pepi at closer to €45m and are hopeful his stock could rise further if he shines on the international stage.

The expectation internally is that a summer window — free from urgency — will allow PSV to line up their “Prince Charming” replacement properly, rather than gambling on deadline-day chaos.

Fulham’s attention now turns elsewhere, having learned that persistence alone does not break a club determined to protect its structure. PSV, meanwhile, keep hold of a prized asset — and shift their focus to the summer, when fairytales are more likely to be written with time on their side.