PSV warned over Pepi bid as Fulham test resolve

PSV Eindhoven have been told to accept Fulham’s €32m offer for Ricardo Pepi while they still can.

Dutch legends Rafael van der Vaart and Pierre van Hooijdonk believe the Eredivisie giants are taking an unnecessary gamble by holding out for more — and warn they may never see an offer like this again.

Fulham have returned once more for Pepi after failing to land the striker in the summer. Over the weekend, reports in the Netherlands confirmed that Marco Silva’s side had seen a €32m bid rejected, with PSV still holding out for a figure closer to €40m.

The Dutch club’s stance appears to be based on timing rather than form.

PSV are understood to believe Pepi’s value could rise after the World Cup, banking on the USA international enjoying a strong tournament and boosting his price tag. That long-term thinking has led them to resist Fulham’s approach — even with the striker currently sidelined by a broken arm.

Pepi has returned to individual training, but is still expected to miss at least another month of action, a factor Fulham do not appear overly concerned by.

Van der Vaart and Van Hooijdonk were both openly critical of PSV’s decision to reject the offer.

“I’d sell him immediately for that amount,” Van der Vaart said. “I think he’s a good striker, but he’ll never fetch that price again. He’s not a guaranteed starter, so €32m — come on. I’d take it and move on.”

Van Hooijdonk was slightly more measured, but still leaned towards accepting Fulham’s money.

“At €32m outright, it’s a big decision,” he said. “But if PSV can get that fee and add a strong sell-on percentage, I would absolutely do it.”

Despite Pepi’s injury and PSV’s resistance, Fulham continue to push.

Silva’s side are clearly unconvinced by the idea of waiting until the summer and remain keen to strengthen their attacking options now. Their persistence suggests they believe PSV may soften as deadline day approaches — especially if no improved offers arrive.

PSV’s strategy hinges on future upside. Fulham’s offer represents immediate, guaranteed value.

With Pepi injured, not assured of a starting role, and the transfer window ticking down, the pressure is growing on PSV to decide whether holding out is ambition — or overconfidence.

Fulham are expected to decide whether to return with an improved offer, while PSV must weigh short-term certainty against long-term risk as deadline day nears.

Should PSV cash in now — or wait for Pepi’s value to rise?