The transfer saga surrounding Dutch star Memphis Depay came to a sudden end on Friday when the winger signed an extension with PSV to keep him at the club until 2018.
The Eredivisie club announced the news on Twitter (in Dutch), with Sun Sport confirming the new contract is a four-year deal:
Spurs target Memphis Depay has signed a new four-year deal at PSV Eindhoven #thfc— SunSport Now (@SunSportNow) August 22, 2014
Several Premier League clubs were interested in the services of Depay, who was one of the breakout stars of the 2014 World Cup. Tottenham were often identified as the team most likely to land the coveted 20-year-old, but a transfer now seems out of the question.
PSV and Depay released a joint statement via the club's website, and the player made a very clear commitment to his current club, saying he wants to continue his development in the Netherlands and win silverware with PSV (statement in Dutch).
Both parties will sign the new deal on Saturday, which will add one additional year to Depay's current contract, set to expire in 2017. As shared by Bleacher Report's Dutch football expert Elko Born, a summer transfer now appears to be off the table:
Memphis Depay has extended his contract at PSV until 2018. A summer move seems out of the question now.— Elko Born (@Elko_B) August 22, 2014
Depay has long been touted as one of the Netherlands' biggest attacking talents, combining excellent pace and technical ability with a keen eye for goal. While plenty of clubs were interested in his services, the youngster is still very raw and likely needs a lot more minutes before he's ready to contribute at the Premier League level.
An extension with PSV makes perfect sense in that regard: The team's start to the 2014-15 Eredivisie campaign has been superb, all but eliminating memories of the disappointing 2013-14 season.
The World Cup hero will get the chance to continue his development in a league that is very friendly to attacking football, and PSV should be among the Netherlands' main title contenders this season.
If he continues to grow at the same spectacular rate, the top Premier League clubs will surely be back with improved offers in the 2015 summer transfer window. A better, more mature Depay would then be ready to make an impact on the highest level, while PSV will reap the financial benefits of their excellent youth setup.