MADRID, June 26, Real Madrid have formally informed Como of their intention to activate the €9 million buyback clause for Nico Paz, setting in motion a complex transfer saga that will determine the Argentine midfielder’s future before Monday’s deadline.
Los Blancos sold the 21 year old to the Italian side in the summer of 2024 for approximately €6 million, retaining a series of buyback options designed to protect their interest in the academy graduate. After two transformative seasons in Serie A, the Spanish champions have now exercised their right to bring him back to the Santiago Bernabéu .
However, Paz’s return is unlikely to be a permanent homecoming. According to transfer expert Fabrizio Romano, Real Madrid have offered Como the opportunity to re sign the attacking midfielder on a permanent basis for €60 million, with the Serie A side granted until Monday to decide whether to meet that valuation .
Should Como decline, a scenario considered likely given the significant financial outlay, Real Madrid will entertain offers from other suitors in excess of €60 million . Inter Milan have already emerged as a strong contender, with club vice president Javier Zanetti maintaining a close relationship with the Paz family that could facilitate negotiations .
Paz’s remarkable rise in Italy
Paz’s development at Como has exceeded even the most optimistic projections. The attacking midfielder registered 13 goals and seven assists across all competitions last season, leading his side to a historic Champions League qualification . His 18 Serie A goal contributions were instrumental in the club’s top four finish, establishing him as one of European football’s most coveted young talents.
His club form earned him a place in Argentina’s World Cup squad, further enhancing a reputation that has attracted interest from across the continent .
Mourinho faces selection dilemma
The arrival of José Mourinho as Real Madrid manager has altered the calculus surrounding Paz’s immediate future. With Jude Bellingham, Arda Güler, and the recently acquired Bernardo Silva competing for attacking midfield roles, opportunities for regular first team football appear limited at the Bernabéu .
Reports suggest Mourinho has held discussions with Paz regarding his potential role, but the Portuguese coach has been unable to guarantee the consistent minutes the Argentine enjoyed under Cesc Fàbregas at Como . The emergence of interest in Chelsea’s Enzo Fernández further complicates Paz’s path to the starting XI .
Contractual complications
The transaction is not without procedural hurdles. Real Madrid cannot immediately resell Paz after activating the buyback clause due to a mandatory 12 week registration period, meaning any permanent sale would have to wait until the winter transfer window . This regulatory constraint may influence how the club structures any potential exit.
If Como decline the €60 million option and no suitable offer materialises, Paz could yet feature in Real Madrid’s pre season preparations before a decision is reached on his longer term future .
Reporting by Azuka; Editing by Betandsured team
