Nico Paz was hoping to return to Real Madrid this summer, but Franco Mastantuono's signing has changed everything. The deadline to execute the buy-back clause has passed, and Como intends to take advantage of this with a proposal that no one expected at Santiago Bernabéu.
OKDiario has revealed that Como intends to take advantage of the current situation to keep Nico Paz permanently. What the team led by Cesc Fàbregas wants is to work to eliminate all buy-back clauses and the percentage of a hypothetical resale.
We are talking about negotiations that are expected to be long and complicated, with Real Madrid not wanting to lose total control over Nico Paz. In his first season in Serie A, the youth academy graduate has excelled, with 6 goals and 9 assists, being Como's star.

What the Italians want is to pay a definitive amount to Real Madrid to keep 100% of Nico Paz's rights. Xabi Alonso knows this firsthand and, although he wanted him back, he has accepted that the best thing for him is to stay at Como. In any case, Florentino is clear that he doesn't want to lose him permanently and, if this happens, the proposal would have to be very good.
Everything has changed for Nico Paz
The much-discussed arrival of Mastantuono, together with the presence of Arda Güler, Brahim, and other young attacking players, changed the sporting plans. Xabi Alonso understood that he wouldn't be able to give all of them the minutes they need to develop. The one most affected has ended up being Nico Paz.
The club made a clear decision: not to bring the Argentine back this summer. Not for lack of trust, but to avoid hindering his progress. As of today, Real Madrid is full of young talent, and there's no room for everyone.

The agreement with Como includes two future buy-back clauses. In the summer of 2026, the white club will be able to bring him back for €9 million, and in 2027, for €10 million. It's a long-term project and, for now, nothing is ruled out. Nico Paz could wait until next year, with another season of development and ready to return to Real Madrid.
It remains to be seen what will happen in the negotiations that Como wants to carry out. Xabi Alonso has accepted that he won't return this summer, but he doesn't want to lose track of him...