Twice this summer, Hamburger SV has tried to convince KRC Genk to sell Zakaria El Ouahdi, and twice the Belgian club has said no. Both offers were described by Belgian media as financially insufficient, falling well short of what Genk considers a fair valuation for the 23-year-old right-sided defender. According to reports, the two proposals combined do not even reach €15 million, a figure that leaves a significant gap between Hamburg’s ambitions and Genk’s demands.
Two rejected bids later, Hamburg still hasn’t come close to Genk’s valuation of Zakaria El Ouahdi, with both offers combined falling short of €15 million.
Genk’s confidence in its position stems largely from El Ouahdi’s contract, which runs until June 2028. That security removes any urgency to sell and allows the club to hold a strict line on price. Club officials have framed the player as a core starter, someone whose sporting importance justifies resisting offers that fall below their valuation. El Ouahdi has become one of the rising stars of the Atlas Lions, making his sale even less appealing to Genk from a sporting perspective. That same national team also relies on defensive figures like Jawad El Yamiq, whose experience with the Atlas Lions underscores the depth Morocco now boasts across its backline.
This approach isn’t new: Genk rejected a bid from Brentford in April 2026, worth €15 million plus €6 million in bonuses, and turned down Wolfsburg’s approximately €9 million offer back in 2025 when the club wanted closer to €12 million.
Genk’s asking price for El Ouahdi reportedly sits between €20 and €25 million guaranteed, with some sources suggesting the club could push for €25 to €30 million given his role and contract situation. That figure sits significantly above Transfermarkt’s market value estimate of around €17 million, highlighting the gap between open-market perception and Genk’s internal valuation.
Despite two rejections, Hamburg’s interest hasn’t cooled. German coverage suggests the club has intensified its efforts, viewing El Ouahdi as a key solution for the right flank. There is talk of a third, potentially decisive offer being prepared, one that could serve as something of an ultimatum in the negotiations.
Given Hamburg’s financial constraints, a straightforward cash deal at Genk’s valuation seems unlikely, and reports mention loan structures or alternative arrangements as possible workarounds.
Even so, most assessments place the odds of the transfer happening at roughly 30 percent at this stage. Genk’s firm stance, backed by contract security and the player’s importance to the squad, means Hamburg still has plenty of convincing left to do.
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