The enticement of a big transfer at the club level and all that a big move represents — growth, a new challenge, a bigger stage and (of course) more money — can sometimes be at conflict with the realities on the international stage.
It’s an imbalance with which Ricardo Pepi is already intimately familiar. But this time around, fate may fall on his side when it comes to making the U.S. World Cup team.
When Pepi made a $20 million move from FC Dallas to Augsburg in the German Bundesliga in January 2022, he looked like the striker of the future for the U.S. men’s national team. At just 18, Pepi was tapped for his international debut in a game with huge stakes: on the road in Honduras in the opening window of qualifying for the 2022 World Cup.
After two draws to open qualifying, the U.S. needed a result in San Pedro Sula. The teenager delivered with a 75th-minute goal that gave the Americans a lead they wouldn’t relinquish, and he assisted on two others in a 4-1 win. He scored twice more the next month in a win over Jamaica, and his form in MLS combined with his national team breakout led to the big-money move to Germany.
But Pepi struggled for playing time at Augsburg, ultimately going nearly a year without a goal. The teenage phenom who seemed bound to start at the 2022 World Cup in Qatar instead fell down the depth chart. Pepi looked to salvage his chances at making the team with a loan to Groningen in September 2022. But even after scoring five goals and adding two assists in his first eight Eredivisie games, Gregg Berhalter left him off the U.S. roster — a controversial decision, but one that left Pepi watching the tournament from afar.
Pepi hung up on Berhalter when told the news. The snub, of course, stuck with him.
“It was difficult, you know, but it’s part of life,” Pepi told The Athletic in 2023. “I feel like ever since that moment, I’ve grown as a player and I’ve grown as a person. … (These moments) make you strong mentally. I’ve been through a lot, having to go on loan, having to miss out on the World Cup, and things like this, these are things that build character. And I feel like I’m a strong person.”
Now, with another World Cup coming up, Pepi’s purported move from PSV to Fulham fell apart on deadline day as the Dutch powerhouse couldn’t find a replacement for its American striker. And this winter transfer situation could wind up helping Pepi avoid another disappointing moment on World Cup roster decision day.
Ricardo Pepi is hoping for another chance to face Paraguay, the USMNT’s opening opponent at the 2026 World Cup (Omar Vega / Getty Images)
Pepi, who remains sidelined with a broken forearm and isn’t expected to return for another month and a half, has 11 goals and three assists across all competitions this season. He remains one of the most efficient goalscorers in Europe. Fulham put forth a bid in the region of €35 million to bring that track record to the Premier League.
It all sounds nice in theory, but there was genuine risk involved.
The path to regular playing time at a new club and in a new league would have been more difficult for Pepi, especially as he worked back from injury only to return with roughly two months left in the season. At Fulham, he would have been competing with veteran Mexico international Raúl Jiménez — who is out of contract at the end of the season, hence Fulham’s push to sign a new striker — for playing time. Rodrigo Muniz could be back from a hamstring injury later this month, and also served as competition.
If he had failed to get consistent playing time and was again lacking for goals, it would have been easy for Pepi to fall back on the U.S. depth chart, especially if Patrick Agyemang and Haji Wright were to keep on firing in the EFL Championship. That’s introducing a lot of unpredictability and potential for volatility at a time when Pepi needs to be at his sharpest.
Instead, he’ll stay at the club where he has scored 24 goals with six assists in the Eredivisie and Champions League over the past two seasons. Remaining gives Pepi a much more solid chance to get back on the field — and back to scoring goals — on an accelerated timeline, which should keep him top of mind for Mauricio Pochettino as he picks a World Cup squad.
That’s especially important since it seems Pochettino will look at the March window as an extension of camp for the team he’ll take to the tournament in the summer.
Folarin Balogun looks set to be the starter up top for the Argentine manager. He’s been a difference-maker at the No. 9 for the U.S. in the last few windows. But behind him, the competition is still very much wide open. In Qatar, the U.S. learned how important depth was at the forward position. Wright had an inconsistent tournament, while Jesus Ferreira was ineffective in the knockout stage after Josh Sargent got hurt.
Last week, Pochettino said he hopes to see Pepi fit again soon.
“We’ll see how he is going to come back and start to play and to perform,” Pochettino said. “Of course he’s a player in our radar. [I] hope that he can be fit and I think we have time to assess and of course we are going to make the best decision for him and for us.”
Pochettino made it clear that he likes to see his players make moves, even with the risk involved. They are betting on themselves and seeing chances to grow and improve. He doesn’t want players staying in their comfort zone.
But for the U.S. and for Pepi, staying at PSV for the next few months might give them both the best chance at maximizing their World Cup summer. And if they do, then Fulham — and others — will be lining up for another shot to sign him.