PSV attempted to sign Costa Rican striker Manfred Ugalde from Spartak Moskou in the final days of the winter transfer window. The club started searching for potential replacements for Ricardo Pepi after Fulham submitted a bid of approximately 35 million euros for him. PSV proposed a loan for Ugalde, who is 23 years old, which included a 15 million euro option to buy, but Spartak Moskou rejected the offer. Ultimately, PSV decided against selling Pepi, which rendered the signing of Ugalde unnecessary. There had also been strong reports connecting the striker to another top Dutch club, Feyenoord, during the preceding summer. Ugalde's contract with Spartak is valid until June 30, 2028. He has scored 4 goals in 17 league appearances this season. The Costa Rica international has 31 caps and 11 goals. His current market value is estimated by Transfermarkt to be €14.00m.