Pepi Transfer: Fulham Clinches Deal with PSV for USMNT Striker

Ricardo Pepi to Fulham

Fulham and PSV agree on Ricardo Pepi transfer deal worth €36m. The USMNT striker is set to join the Premier League club this summer.

Fulham signs Ricardo Pepi from PSV in €36m deal, pending medical...

The deal between Fulham and PSV for striker Ricardo Pepi is off after the two sides couldn't agree on the final few details, PSV director Earnest Stewart confirmed on Saturday.

Pepi and Fulham reached a full agreement earlier this week on a summer move reportedly worth €36 million. After the American striker completed his medical on Friday, PSV and Fulham were a couple of details away from also reaching an agreement, but that deal has now fallen apart, Stewart confirmed.

“In the end, no agreement was reached on when responsibility for the player would be transferred,” Stewart told ESPN.

PSV wanted Fulham to take full responsibility the moment the deal was struck, meaning that regardless of whether Pepi would pick up an injury, the striker would move to Fulham. The Cottagers wanted to retain the flexibility to pull out of the deal in case of an injury.

Pepi hasn't played a full season without missing games due to injuries since joining PSV in 2023, and was limited to 27 and 17 games in the previous two seasons.

This season, Pepi's struggled with knee and arm injuries, missing 11 games and starting just 12 of the 27 games he was included in.

He Says He Holds No Grudge

“Ricardo really wanted this,” Stewart continued. “It’s a particularly difficult situation for him. We’re obviously pleased to be keeping a good striker.”

“Peter (Bosz) will need to discuss this weekend's availability with him, but knowing Ricardo, it won’t have any impact. He harbours no grudge against PSV and, in that respect, is a bit like Joey,” Stewart said, aiming at Joey Veerman's collapsed transfer to Fenerbahçe in January.

A future deal with Fulham isn't ruled out for Pepi and PSV, Stewart admitted.

🚨⚠️ Ricardo Pepi deal, currently on hold and in danger even after medical done in London this week.

There are issues between Fulham and PSV despite Pepi completing his medical after verbal agreement done.

Deal at risk, as @RikElfrink reports. 🇺🇸 pic.twitter.com/4RHgPFCWMA

— Fabrizio Romano (@FabrizioRomano) March 21, 2026

The 23-year-old Pepi joined PSV from FC Augsburg in 2023 for €11 million after impressing at Eredivisie side FC Groningen. He scored 12 goals in 29 games that season.

AFGEKETST: Pepi tóch niet van PSV naar Fulham. Hoe een deal van 40 miljoen euro naar de bliksem ging door een ogenschijnlijk klein detail. Zie: https://t.co/b1e2a0EglJ https://t.co/b1e2a0EglJ

— Rik Elfrink (@RikElfrink) March 21, 2026

The American has amassed 39 goals and 9 assists across 82 matches in all competitions.