FC Porto vs Stuttgart: The Battle for Dzenan Pejcinovic
The race for Dzenan Pejcinovic has turned into a straight duel between a fallen Bundesliga side and a resurgent European heavyweight. Money on one side, emotion and geography on the other.
According to Bild, FC Porto have made the first aggressive move. The Portuguese champions have already lodged an opening bid with Wolfsburg – around €23 million – only to be knocked back immediately. For a club that has just dropped into the second division, Wolfsburg are in no mood to sell cheap. Their line is clear: at least €25 million or no deal.
Porto are not walking away. A second bid is being prepared, the sense in Portugal being that Pejcinovic is worth pushing for. Champions League football, a big European stage, a proven pathway for strikers – the package is strong. But they are not alone.
Stuttgart’s dream signing hits a hard valuation
Stuttgart have been circling Pejcinovic for weeks and, inside the club, he is viewed as the ideal number nine for the next phase of their project. Not a luxury, a cornerstone. The plan is for him to arrive regardless of what happens with Ermedin Demirovic.
That last point caused a storm.
When Sky suggested that coach Sebastian Hoeneß would be open to selling Demirovic – with Fenerbahce and Juventus among the clubs watching the Bosnia international – the reaction in Stuttgart was sharp.
“I was irritated and, to be honest, also annoyed by some of what was discussed there,” Hoeneß told Bild. He then drew a firm line: “My goal is always to have the best players at VfB and Medo is one of our best players.”
The message was unmistakable. Stuttgart want Demirovic. And they want Pejcinovic as well.
On paper, there is no emergency in attack. Demirovic and Deniz Undav already form one of the Bundesliga’s most dangerous partnerships. Jeremy Arevalo arrived in January as a challenger and still needs time to fully adapt after his first half-season. Jovan Milosevic has returned from loans at Partizan Belgrade and Werder Bremen, giving Hoeneß a fourth centre-forward option, though the Serb is widely expected to move on again.
So this is not about filling a gap. It is about loading up for the Champions League.
Stuttgart tested Wolfsburg’s resolve with a package worth around €18 million for the Germany Under-21 international. That went nowhere. With Porto now in the game and showing they can get close to Wolfsburg’s valuation, the chances of the Wolves backing down from €25 million shrink by the day. Bild report that Stuttgart are preparing a new offer of €22 million – still likely short of the mark.
Player preference tilts the board
If the numbers lean Porto’s way, the player’s preference pulls hard towards Stuttgart.
Pejcinovic is understood to favour a move to VfB. He wants out of Wolfsburg after relegation, but he wants to stay in Germany. Stuttgart can offer him Champions League nights without asking him to leave his comfort zone. The Swabian city also brings him closer to Munich, where his football story really began.
He came through Bayern Munich’s youth ranks before switching to Augsburg at 12. From there, he jumped to Wolfsburg from Augsburg’s Under-19s in 2022, betting on a quicker path to first-team football.
The road has not been smooth. A loan to Fortuna Düsseldorf in 2024/25 brought valuable minutes but also his second metatarsal fracture. Last season, though, everything clicked. Across 34 appearances in all competitions for Wolfsburg, Pejcinovic scored 12 goals and finally looked like the complete centre-forward many scouts had projected.
That breakout year is why Porto and Stuttgart are here now.
Porto can match Stuttgart on European competition – they, too, will be in the Champions League – but not on weekly league level. The Portuguese top flight is a step below the Bundesliga in intensity and spotlight. The move would also pull Pejcinovic far from home, with no obvious personal anchor in Portugal.
For Stuttgart, those small details matter. They are trying to build not just a squad but a core of players who feel rooted in the club and the league. In that sense, Pejcinovic fits perfectly.
Porto, the familiar spoiler
Porto know this role well: the club that slips in and wrecks a German plan.
They have already moved once at centre-forward this summer, bringing back former Bundesliga striker Andre Silva from Elche. The idea is clear – refresh the attack, build around a mix of experience and high-upside talent.
Their current attacking picture is complicated. Samu Aghehowa, the gifted forward repeatedly linked with Europe’s elite, tore his ACL in February and is not expected back before the end of October. In his absence, Terem Moffi, on loan from OGC Nice, and Turkey international Deniz Gül shared the central duties. Neither managed to convince consistently.
So Porto want another number nine. A different profile. A finisher with room to grow and resale value. Pejcinovic ticks every box.
Stuttgart know what it feels like when Porto come calling. They were already stung by the Portuguese side last season – not in a boardroom, but on the pitch. In the Europa League round of 16, Porto went to Germany and won the first leg 2-1, with goals from Moffi and top talent Rodrigo Mora. The return leg in Porto brought more frustration for VfB: plenty of chances, no goals, and a 2-0 defeat that sent them out of the competition. Porto’s own run ended one round later against Nottingham Forest (1-1, 0-1), but the damage to Stuttgart’s European campaign was done.
Now Porto are back in Stuttgart’s path, this time over a striker who could shape the next five years for whoever wins the race.
Wolfsburg sit and wait, armed with a contract that runs until 2029 and a clear price tag. Porto push from one side with Champions League prestige and financial muscle. Stuttgart push from the other with Bundesliga status, proximity to Munich and the promise of being the centrepiece of a rising team.
Some transfer battles are about who pays most. This one may come down to whether Wolfsburg listen to the player as much as they listen to the bids.
