Como have agreed a complex €60m deal to retain Argentine forward Nico Paz, purchasing the remaining 50 per cent of his economic rights from Real Madrid while granting the Spanish club an €80m buy-back option valid for summer 2027.
The agreement, which must be signed before the 30 June deadline, allows the Serie A side to keep the 21-year-old ahead of their inaugural Champions League campaign. Sky Sport Italia report that the €60m fee will be paid in instalments over four years to ensure Financial Fair Play compliance.
From €6m sale to €120m valuation
Real Madrid originally sold Paz to Como for €6m in August 2024 after the attacker progressed through their youth academy. The initial contract included buy-back clauses worth €9m in 2026 and €11m in 2027, alongside a 50 per cent sell-on clause.
Sources in Spain indicate that Los Blancos did not formally activate the €9m reacquisition option this summer. Instead, they informed Como of their intention to do so, triggering a preferential negotiation window that expires at month’s end. This mechanism enabled Como to secure the remaining half of Paz’s contract for €60m, establishing a total market valuation of €120m.
Real Madrid’s 2027 strategy
The structure leaves Real Madrid with multiple future pathways. They retain both a right of first refusal and an €80m buy-back clause exclusive to summer 2027. Spanish reports suggest the club is confident of exercising that option, which would bring Paz back to the Bernabéu after two further seasons of development in Italy.
Should that scenario materialise, the total outlay for Real Madrid would amount to approximately €14m when accounting for the original €6m sale and the future €80m purchase, against the €66m received in transfer fees.
Inter outmanoeuvred
The deal frustrates Inter Milan, who had positioned themselves as favourites to sign Paz following their failure to secure defender Marco Palestra from Chelsea. However, Como’s contractual priority rights and superior liquidity enabled them to outmanoeuvre the Nerazzurri.
Paz flourished under manager Cesc Fàbregas this season, contributing 13 goals and 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 during international duty.