Real Madrid Block Tottenham's €70 Million Transfer Bombshell in Dramatic Last-Minute Intervention

Tottenham Hotspur's pursuit of a new attacking midfielder continues to hit roadblocks, with Como's Nico Paz becoming the latest target to slip through their fingers in the transfer window.
As reported by Fabrizio Romano, Tottenham submitted an official proposal to Como exceeding €70 million (£60.4 million, $81.5 million) with performance-related bonuses to secure Paz's services. The bid was turned down by the player, the Serie A club, and crucially by Paz's former team: Real Madrid.
Paz made a permanent switch to Como from Real Madrid last summer. However, the Spanish giants retained matching rights on any incoming offers for Paz, a 50% profit share should he leave Como outright, and most importantly, a buy-back option valued at €10 million ($11 million) for summer 2026.
Real Madrid effectively hold the keys to Paz's destiny. Despite Tottenham's willingness to invest heavily, Paz prefers to remain at Como, progressing under Cesc Fàbregas while keeping an eye on a potential Santiago Bernabéu comeback next summer.
The Madrid club informed Como they would match any incoming proposal for Paz and, per Romano's report, also assured the Serie A outfit of future compensation, likely exceeding the buy-back clause value.
Many anticipated Paz's Real Madrid return this summer following his impressive campaign of six goals and nine assists, which earned him the 2024–25 Serie A Young Player of the Year honor. However, with Los Blancos acquiring Franco Mastantuono, they decided against bringing Paz back this season, preferring the young Argentine to continue his development in Italy.
In Como's opening fixture, Paz found the net and provided an assist in their 2–0 triumph over Lazio. At just 20 years old, Paz possesses enormous potential, explaining Real Madrid's determination to keep him in their long-term plans.
Paz adds to Tottenham's list of unsuccessful summer pursuits alongside Morgan Gibbs-White and Eberiche Eze. With one week remaining in the transfer window, Spurs appear compelled to change direction once more in their quest for a new creative midfielder.