Como are finalising a €60m agreement to re-sign Argentine forward Nico Paz from Real Madrid, exercising preferential rights that expire on 30 June. The deal would see the Serie A club purchase 50 per cent of the player’s economic rights while allowing the Spanish giants to retain future control through a buy-back clause.
Complex ownership structure
Real Madrid originally sold Paz to Como for €6m in August 2024, inserting buy-back options worth €9m and €11m for 2026 and 2027 respectively. Reports indicate Los Blancos activated their reacquisition option this summer, yet intend to sell the 21-year-old immediately for profit rather than retain him.
Sky Sport Italia claim Como will pay €60m over four years to acquire half of Paz’s contract, reflecting a total valuation of €120m. As part of the arrangement, Real Madrid would hold an €80m buy-back option valid exclusively for summer 2027, alongside a right of first refusal. However, Spanish sources suggest Real Madrid merely informed Como of their buy-back possibility rather than formally triggering the €9m clause, characterising this as a fresh operation.
Inter Milan beaten to signature
Inter Milan had positioned themselves as favourites to secure Paz, particularly after losing defender Marco Palestra to Chelsea. Yet Como’s superior liquidity and contractual priority rights have enabled them to outmanoeuvre the Nerazzurri. The Lombardy club must complete the transfer before the month-end deadline, after which their exclusive negotiating window closes.
Paz flourished under manager Cesc Fàbregas this season, scoring 13 goals and providing eight assists in 40 appearances across Serie A and the Coppa Italia, where Como reached the semi-finals. The Argentina international has indicated his commitment to the project, posting social media content wearing Como apparel while on international duty.
Should the deal proceed, Paz would return to the Stadio Sinigaglia ahead of the club’s inaugural Champions League campaign, with Real Madrid securing significant capital gain while maintaining a pathway to re-sign the midfielder in 2027.