As the winter transfer window looms, Europe’s elite clubs are already jostling for position in one of the most intriguing transfer sagas of the season, the race to sign Argentine prodigy Nico Paz, currently lighting up Serie A with Como.
Once part of Real Madrid’s academy, Paz has become one of the most sought-after young playmakers in Europe.
The 21-year-old has scored four goals and provided four assists for Como this season.
Chelsea have made an official inquiry about Paz’s availability.
Real Madrid hold the keys to Chelsea target’s future
However, any deal for the player is complicated due to Real Madrid’s buy-back clauses and a 50% sell-on clause retained when they sanctioned his move to Como.
Madrid hold buy-back options worth €9 million in 2026 and €10 million in 2027, giving them significant leverage in any potential transfer discussions.
Meanwhile, Inter Milan have emerged as serious contenders in the race. Reports suggest that the Nerazzurri are preparing a €58 million offer, which would be directed to Real Madrid to acquire the player’s full rights.
Blues face competition from Premier League clubs
Nico Paz of Como (Photo by Marco Luzzani/Getty Images)
Any move would still require the cooperation of both Como and Madrid due to the shared ownership structure.
Arsenal and Tottenham Hotspur are also monitoring the situation closely. Spurs are believed to have seen an initial approach rejected, while Mikel Arteta’s Arsenal are trying to persuade Paz to consider a Premier League switch instead of a return to the Bernabéu.
With Real Madrid’s buy-back rights complicating negotiations and Paz’s stock rising with every performance, top clubs are going to chase the attacking midfielder who is certain to have a bright future in the game.
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