Hamburger SV is once again faced with the future of Immanuel Pherai, as SV Elversberg let the buy option for the midfielder expire. After a solid second half of the season, the transfer fee of €2.5 million was deemed too high. Pherai will now return to Hamburger SV for the time being, where the management is already working on several squad decisions. His contract runs until 2027, which is why the club wants to secure a transfer fee this summer. Another loan deal is not being considered.

The current market situation is particularly interesting for Hamburger SV, as Pherai can now be actively offered to other clubs. According to Mopo, several clubs from Germany and abroad are said to be monitoring his situation. However, it remains to be seen whether an interested party will approach HSV in the short term. A permanent move to Elversberg is not completely off the table, as the two clubs are still in contact.

Discussions over a deal on reduced terms cannot be ruled out, but Elversberg has recently strengthened further by signing top talent Francis Onyeka from Bayer Leverkusen, which could diminish the chances of a deal for Pherai. If no new club is found in the coming weeks, Pherai would initially report back to Hamburger SV at the beginning of July and begin preseason preparations. Ideally, though, all parties will have clarity before then.