‘Our Player’—Como Chief Reveals Nico Paz Stance Amid Real Madrid Return Speculation

Nico Paz’s sensational start of the season for Como has unsurprisingly raised speculation about his potential return to Real Madrid, but Como sporting director Carlalberto Ludi tried to reassure supporters of the Italian club, stating that Paz is “100% a Como player.”

The Argentine playmaker is emerging as one of the best players in European soccer since the start of the campaign. Real Madrid had a chance to bring back their academy graduate last summer for a bargain €9 million ($10 million), but instead a new deal was struck, and Como unloaded €60 million ($67 million) to keep Paz in Lombardy.

Paz is a Como player, but Real Madrid added another buy-back clause in the new deal worth €80 million ($90 million) valid for next summer. Ludi is aware of this, and although he couldn’t confirm Paz will continue at the club past this season, he did state Como holds a strong position.

“I put myself in the shoes of Como’s supporters,” Ludi told Radio Radio. “Because every November and every March—whether due to media speculation or for other reasons—it always comes up that Real Madrid are taking all their players back home.”

“The truth is that we made a good deal last summer,” Ludi continued. “Nico Paz is 100% a Como player. Real Madrid retained a buy-back option by a certain date during the transfer window, as is normal. It would be a sale that would enhance our work and would also be important for the club.

“We’ll figure out how to manage the situation during the season, as we’ve always done in recent years, thanks in part to the fantastic relationship we have with Madrid. For now, we have to enjoy the player, because he truly is an incredible champion.”

Nico Paz Rejected Real Madrid Return Last Summer

Nico Paz celebrating. — No player has more goals contributions halfway though the Champions League league phase than Nico Paz. | Image Photo Agency/Getty Images

Ultimately, though, Paz will have final say on his future come next summer. Real Madrid control the situation due to the buy-back clause—which is exclusive for the summer of 2027—but the Argentine already rejected a return to the Bernabéu.

Real Madrid wanted Paz back ahead of the 2026–27 season, but it was the attacking midfielder that pushed to extend his stint at Como for at least another season.

According to Fabrizio Romano, Paz spoke directly with Real Madrid manager José Mourinho and communicated his desire to stay at Como so he could continue his development by featuring in every game—something that wasn’t guaranteed with Los Blancos.

Paz has done just that. The 22-year-old has three goals and as many assists in nine Serie A games, plus a staggering three goals and five assists after four Champions League matches. In Como’s maiden Champions League campaign, Paz is stealing the show, and his eight goal contributions are the most of any player in the competition so far.

Does Real Madrid Really Need Nico Paz?

Nico Paz and Jude Bellingham. — Nico Paz (left) plays the same position as Jude Bellingham | Manuel Reino/DeFodi Images/Getty Images

It’s easy to see why Madrid wanted Paz back last summer and why they’ll probably try to bring him back home next summer. The Argentine is one of the most exciting young players in the world and has all the tools to become one of the world’s best for the next decade. But do they really need them?

A major reason why Paz rejected a return to Spain’s capital last summer was that his path to consistent minutes was blocked. As a prototypical No. 10, Paz would be competing with Jude Bellingham—arguably the best attacking midfielder in the world currently— for a spot in the starting XI.

Los Blancos also have Arda Güler in their ranks, who is also blossoming into a superstar. Although the Turkish playmaker is a versatile player, he likes to drift centrally whenever he can.

At Como, Paz is the star man, the focal point of Cesc Fàbregas’s attack. At Madrid, he’d be another shiny Gálactico option in an already stacked attack. Acquiring a star attacking midfielder isn’t a need for Los Blancos, but that’s not exactly how they operate.

Florentino Pérez has a long history of signing star players regardless of if Madrid need them or not. Only last summer, instead of acquiring a central midfielder, Los Blancos broke their transfer record on 19-year-old left winger Yan Diomande, despite already having Vinícius Júnior and Kylian Mbappé.

Madrid will surely explore Paz’s return and only time will tell if it materializes. Other European giants are unsurprisingly lurking as well, but Los Blancos have a significant upper-hand in the Paz sweepstakes.

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