Ricardo Pepi shock: €40m Fulham deal ‘completely falls through’ over small detail

Robin Bairner

21 Mar 2026 21:28 GMT
2 min read

Ricardo Pepi’s dream transfer from PSV to Fulham has collapsed over a “small detail”, leaving the USMNT star in limbo.

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Pepi’s switch to the Premier League side was all but confirmed earlier this week after the 23-year-old agreed personal terms and also passed a medical.

According to a report from ED, the €40 million transfer has collapsed at the last moment, with the prospect of the deal being resurrected branded as “slim” by PSV expert Rik Elfrink.

Current ETV

Ricardo Pepi

F (C)

PSV

Ricardo Pepi

F (C)

PSV

ETV Range

€16.4M - €20.1M

Ricardo Pepi to Fulham: Why did the deal collapse?

Almost everything was in place for Pepi to complete a transfer to Fulham that appeared to be an outstanding deal for all sides.

A contract had been agreed and he had passed a medical – and there was even a transfer fee agreed between the clubs.

However, the Premier League side refused to agree to a demand from PSV that would have seen them responsible financially for the player in the coming months rather than at the start of next season.

Elfrink, one of the foremost PSV experts, tweeted: “For now, the deal over Pepi between Fulham and PSV has completely fallen through. Talks between the clubs have stopped. Will they revive? The chance seems slim. Pepi will be with the PSV squad tomorrow. He went to London in vain and will probably respond later.”

How has Pepi reacted?

Pepi has yet to give a public reaction to the news, yet PSV technical director Ernest Stewart has offered some feedback on the attacker’s behalf.

“Ricardo really wanted this move. It’s an unpleasant situation, especially for Ricardo. We are, of course, happy to retain a good striker,” he told ESPN.

“He holds no grudges against PSV.”

Unlikely Elfrink, the official line from the Eindhoven club is that channels of communication are still open between PSV and Fulham, and a deal in the summer should not be written off.

“You should never do that,” Stewart said. “If a player can make a good move and it is good for the club as well, then we’ll go for it.”

For now, Pepi’s future is in limbo. What had appeared a slick transfer to secure his future before the World Cup has collapsed, and it may be after the summer showpiece that the American gets his big move.