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It’s official: the "Prodigal Son" is coming home. On Thursday, December 25, 2025, reports from across Europe—including major updates from Fabrizio Romano and TEAMtalk—confirmed that Real Madrid have officially decided to trigger their buy-back clause for Nico Paz.
The 21-year-old Argentina international, who has taken Serie A by storm since moving to Como in 2024, is set to be Madrid's first official signing for the 2026/27 season.
The "Bargain" Buy-Back: A Financial Masterstroke
Real Madrid’s strategy of selling youth products with strict buy-back options has paid off handsomely.
The Fee: Real Madrid will trigger a clause to sign Paz for just €9 million (£7.8m / $10.1m).
The Market Value: In a staggering reflection of his growth, Transfermarkt and other outlets now value the midfielder at approximately €65 million–€70 million.
The "Yes" from Nico: Romano confirmed that Paz has "already said yes" to the move, having turned down significant interest from Arsenal, Liverpool, and Manchester City to fulfill his dream of starring at the Santiago Bernabéu.
The Cesc FÃ bregas Effect
Under the tutelage of Cesc FÃ bregas at Como, Paz has evolved from a promising "Castilla" talent into one of the most creative forces in Italian football.
Serie A Dominance: Over the last 18 months, Paz has amassed 11 goals and 14 assists in 51 appearances for Como.
The "New Modrić": With Luka Modrić expected to leave in 2026, the Real Madrid hierarchy—and current manager Xabi Alonso—view Paz as the essential technical heir to the Croatian’s throne. His ability to dictate play from deep while also operating as a #10 has made him an "irresistible" target for the summer.
Why Not January?
While Real Madrid fans were hopeful for a mid-season return to help with the club’s current midfield injury crisis, the agreement with Como is firm.
1.Clause Restriction: The buy-back clause is not valid for January 2026.
2.Como's European Push: FÃ bregas and the Como board were adamant about keeping their star man until the end of the campaign as they push for a historic European qualification spot.
3.The "Gentleman’s Agreement": Real Madrid have respected Como’s wishes, allowing Paz to finish the season in Italy to maintain his momentum ahead of his Madrid return.
The Verdict: By securing Paz for a fraction of his true value, Florentino Pérez has completed what Spanish media is already calling the "Operation of the Decade." Paz will arrive in June 2026 as a seasoned international ready to walk straight into the world's most famous starting XI.