ไทย
English
中國人
Nico Paz's future looks set to be resolved within the next few days, as Real Madrid appear ready to activate the 21-year-old's buyback clause. Yet what happens beyond that immediate step remains far less clear.
The Argentine international departed Real Madrid for Como in the summer of 2024 for approximately €6 million ($6.8 million), with a buyback clause included in the agreement. Paz has impressed in Italy, earning Serie A's best Under-23 player award in 2024–25 and the league's Best Midfielder honor last season.
Madrid's buyback clause allows them to re-sign him for as little as €9 million ($10 million) this summer. However, that option expires on June 30, making Madrid's decision increasingly urgent.
It had previously been suggested that Paz might stay at Como for one more season, with the player himself reportedly telling Madrid he wished to remain, as Como prepare to compete in the Champions League for the first time in their history. Furthermore, Real Madrid would still have the option to sign Paz the following summer for a slightly higher fixed fee of €10 million ($11.4 million), valid through 2027.
However, both leading Madrid publications AS and MARCA are now among those reporting that Los Blancos do plan to exercise the current buyback clause before it expires next week.
It is then reported that Real Madrid will offer Como the opportunity to re-sign Paz for €60 million ($68.4 million), with a new buyback clause set at €80 million ($91 million)—a figure likely well beyond the financial reach of a club like Como. Unfortunately for them, Madrid's latest move suggests they have almost certainly seen the last of one of their greatest-ever players.
Why Are Real Madrid Re-Signing Paz?
With Jude Bellingham, Arda Güler, Brahim Díaz and even Franco Mastantuono already among Madrid's options in the No.10 role, it is difficult to envision a clear route to regular first-team football for Paz at the Bernabéu.
Should Paz return to the club, it will be as a bargaining chip in Florentino Pérez's transfer market maneuvering.
Madrid are well aware of the significant interest surrounding the 21-year-old, who is currently representing Argentina at the World Cup, with Inter Milan among the clubs known to have shown interest.
AS report that Paz could be brought back to the club and used as a makeweight in a potential deal for Inter's Alessandro Bastoni, who is valued at around €70 million ($80 million).
Despite already signing Ibrahima Konaté this summer, new manager José Mourinho is reportedly eager to add another elite center-back to his squad before the transfer window shuts.
However, any deal between Madrid and Inter would require some creative maneuvering due to FIFA restrictions on re-signing and immediately offloading players. FIFA regulations state that at least 16 weeks must elapse between a club purchasing a player and selling them on. In Paz's case, this means Madrid could not officially sell him until after the summer window had closed, but, as AS note, they could offer Inter a loan deal with an obligation to buy.
Madrid's Transfer Plans Require Sales
The Paz situation highlights one of the key realities facing Madrid this summer. During his re-election campaign, Pérez may have pledged to uphold the tradition of bringing the world's elite players to the Bernabéu, but the club's finances are not without limits.
Madrid have already spent in excess of €55 million ($62.5 million) to bring Marc Cucurella from Chelsea and are expected to pay around €20 million for Denzel Dumfries. Meanwhile, any move for a much-needed creative midfielder will likely cost considerably more—with frontrunner Enzo Fernández valued at £120 million ($160 million).
Mourinho is said to want an additional defender and potentially a "plan B" striker for his revamped side, while Pérez has very publicly hinted at the prospect of another "Galáctico" signing. On top of all this, there remains the far-from-cheap matter of Vinícius Júnior's contract extension to resolve.
SI answers is our AI answer engine trained on human-created content.
Consequently, recent reports have indicated that Madrid will need to generate transfer income this summer to balance their expenditure, with high-profile squad members as well as fringe players potentially at risk of being sold.
Aurelién Tchouaméni, who has attracted interest from Manchester United, is one player who could fetch a substantial fee, but Paz's potential sale could net the club as much as €50 million ($66 million) for a player who has not featured for the first team since 2024.