4 Takeaways From the USA's Transfer Window: Smart For Pepi To Stay Put?

In European soccer, the end of January is often marked by a flurry of deals and transfers across all its leagues. Teams are looking to shore up their squads with key players in a push to win their respective leagues, qualify for the Champions League, or simply not get relegated. 

For American players on both sides of the Atlantic, it was a quiet Deadline Day. But there were still some notable storylines involving some youngsters who we may see at the 2026 World Cup.

Here are my four takeaways:

1. Ricardo Pepi Better Staying Put At PSV?

As late as Sunday night, it looked as though Pepi was headed to the English Premier League with Fulham. The Cottagers had been chasing the rangy striker all window and apparently had finally relented and met PSV Eindhoven's asking price of more than $40 million for the 23-year-old striker — only for the deal to collapse by Monday morning because PSV didn’t have time to replace the Texan.

As disappointed as Pepi is sure to be with the decision — the reported explanation makes little sense since he’s sidelined until mid-March anyway with a broken arm — it could actually boost his World Cup chances.

The Premier League’s relentless physicality is especially difficult to adapt to mid-season, and Pepi would’ve had just two months to make his mark before Pochettino names his final 26-man squad.

No guarantee there. But Pepi, who just missed out on a World Cup trip in 2022, is a proven marksman in the wide-open Dutch league. He’s all but certain to bag a boatload of goals this spring as PSV runs away with its third consecutive Eredivisie title. That’s a good place to be right when Poch is making his final picks.

2. Josh Sargent Drama Continues

The most bizarre winter for an American in Europe must be Sargent's. Norwich City’s estranged star striker has been training with the Canaries under 21-squad for the better part of a month now, punished as he has been by the second-tier English side's officials for skipping an FA Cup match to push through a transfer to MLS outfit Toronto FC.

Deadline Day came and went without a resolution to the standoff; Norwich wants closer to the $28 million it accepted for Sargent last summer before the 25-year-old declined the move. So far, the Reds have offered $18 million.

Don’t be surprised if Toronto ups its bid soon, though. There’s even less incentive for Norwich to compromise now that the transfer window is closed, and TFC is now less than three weeks away from the start of the 2026 MLS season, which they kick off at FC Dallas on Feb 21.

3. MLS Success: Vargas Seals Atlético Deal

In the biggest Monday transfer involving an American, Vargas the 20-year Alaska-born Mexican national team midfielder, joined Atletico Madrid from the Seattle Sounders for an undisclosed fee. Vargas blossomed into a star as a teenager in Seattle; his deserved graduation to one of Europe’s leading clubs is a feather in the cap of both MLS and the Sounders, whose academy Vargas first joined as a 14-year-old. Vargas, an Atléti fan as a kid growing up in Anchorage, caught coach Diego Simeone’s eye when the teams met at last summer’s FIFA Club World Cup. A former U.S. youth international, Vargas made his senior debut for El Tri in a 2-0 win over the USA in October 2024. 

4. Big Risk? USA's Alex Freeman Bets on Himself

While fellow World Cup-bound MLS players like Max Arfsten, Sebastian Berhalter and Diego Luna stayed with their current clubs rather than potentially jeopardize a USMNT roster spot by not settling in immediately overseas, the 21-year-old Freeman — the son of Super Bowl-winner Antonio Freeman — bet on himself by taking such an enormous leap.

Spain’s Villarreal, which made Freeman’s surprising move from Orlando City official late last week, competed in the UEFA Champions League this season. They currently trail only Atléti, Real Madrid and first-place Barcelona in the La Liga standings. But making the jump is a calculated, justifiable risk for Freeman, who got the blessing of U.S. coach Mauricio Pochettino before green-lighting the deal.

He should get a chance to walk right into new manager Marcelino’s starting lineup soon, perhaps when Villarreal hosts Espanyol on Feb. 9.