Former PSV goalkeeper Ronald Waterreus believes Memphis Depay should seriously consider returning to Eindhoven now, insisting that waiting any longer could mean missing his opportunity.

The comments come as uncertainty surrounds Memphis’ future at Corinthians. The Dutch forward has become embroiled in a dispute with the Brazilian club after contract extension talks collapsed, with Memphis accusing the club's hierarchy of failing to honour an agreement.

As reported by PSV Inside, Waterreus discussed a possible return to PSV on the Skiete Willy Podcast of Voetbal International, where he suggested the idea is already present in Memphis’ mind.

According to Waterreus and podcast colleague Timmer, PSV director Marcel Brands remains in contact with Memphis and the legal representatives surrounding the forward.

The possibility of a return was initially described as premature.

“It is still too early. Not now yet. It is in his mind to return to PSV, but should you do it?”

Waterreus, however, was unequivocal in his response.

“If he doesn't do it now, it will be too late. If he himself thinks it's still too early, I say that later it will be too late. The question is whether we need him now. But it is now or never.”

The former PSV goalkeeper's comments come amid a wider discussion about the club's squad and defensive situation, with PSV also pursuing Lutsharel Geertruida.

Memphis, who is 32, is currently facing an uncertain situation in Brazil after Corinthians ended negotiations over a contract extension.

Corinthians said the decision was made because of the club's financial position, stressing that it was necessary to protect its long-term economic stability.

Memphis reacted angrily on X, claiming that he had already reached an agreement to extend his contract by two years.

“Very disappointed to read that Corinthians decided not to honour our agreement in place to extend my contract for 2 more years.”

He added that the club's president, along with its sporting, legal and financial departments, had explicitly agreed to the renewal.

“I didn't want this situation and always respected the club throughout the process, but now I am forced to react strongly in order to preserve my interests.”

Corinthians head coach Fernando Diniz also expressed his disappointment at the situation, admitting that he had been looking forward to working with Memphis.

“I was really looking forward to working with Memphis; I think we could have made a very interesting duo, and it was something I really wanted.”

As reported by GOAL, Diniz also said he would be open to a return if the club's hierarchy changed its position.

“I have no news on that [the board reversing its decision]. But regardless of how it goes, if he could stay, it would be great.”

For PSV, Memphis' situation could therefore be worth monitoring. Waterreus believes the timing of any possible return is crucial, with the former Netherlands international now facing a potentially defining decision over the next chapter of his career.