Paris Saint-Germain is seriously interested in Manfred Ugalde, a 22-year-old Costa Rican forward who is currently the top scorer in the Russian Premier League with Spartak Mosca. He has scored 15 goals in 18 matches this season and recently gained attention by scoring four goals in a derby against Lokomotiv Mosca. PSG is considering him as an option in case of Kolo Muani's departure. Sport Express reports that Ugalde's candidacy is being taken seriously by PSG.

According to De Telegraaf, Manfred Ugalde has caught the attention of Paris Saint-Germain (PSG). He managed to impress PSG following an initial struggle and subsequent success at Spartak Moskou, where he netted fifteen goals and provided three assists in eighteen league matches. PSG is reportedly monitoring him closely with an interest in potentially adding him to their squad. The transfer is possible either this winter or in the summer. Ugalde is under contract with Spartak Moskou until mid-2028. FC Twente, his former club, sold him to Spartak for around thirteen million euros and stands to receive only a small training compensation if the transfer happens, as they did not negotiate a resale percentage.

Jan Streuer, a board member at Twente, was questioned about whether he believes Spartak might eventually sell forward Manfred Ugalde for €80 million, which is reportedly the buyout clause for the 22-year-old player for European clubs. Streuer expressed uncertainty about the potential sale price Spartak could set for Ugalde, noting that it is their right to determine a suitable price. He acknowledged that goal-scoring forwards are always highly valued, and the transfer price often depends on the level of interest a club has in the player. Ugalde transferred to Spartak from Twente in the winter of 2024, after Twente had acquired him from Belgian club Lommel in the summer of 2023. His current contract with Spartak extends until the summer of 2028. Transfermarkt lists his market value at €15 million.