Although at times it seemed done, Nico Paz won't return to Real Madrid. His buy-back option, valued at €8 million, has been on the table for some time and will remain valid until June 30. However, the idea is clear: the Spanish-Argentine doesn't want to spend the whole season on the bench, so he has decided that his return to Bernabéu will have to wait.
Nico Paz doesn't want to return to Madrid: There's a culprit
After a great season at Como, where he recorded 6 goals and 9 assists in 35 matches, Nico Paz doesn't want to be relegated to the bench again. Until recently, he was very interested in returning to Real Madrid, especially after speaking with Xabi Alonso, but this has changed. It changed due to the signing of Franco Mastantuono, his compatriot who will arrive at Santiago Bernabéu this summer.

Xabi was clear that he needed to strengthen the midfield after Modric's departure and the chosen one has been Mastantuono. Real Madrid doesn't plan to make another investment in the midfield and the only question is whether he'll arrive for the Club World Cup or later.
Taking this signing into account, Nico Paz believes his minutes would be reduced to the minimum, so he rejects the possibility of returning. At this time, his return to Real Madrid is completely ruled out by both parties, according to Madrid-Barcelona.
Nico Paz will remain in Italy
Having ruled out the possibility of returning to Real Madrid, unless there's a drastic change, Nico Paz's plan is to stay at Como. He has been fully convinced by Fàbregas's continuity, who had been linked to several teams, including Inter. But the billionaire owner of the Italian team has always refused to negotiate.
With this in mind, in addition to Franco Mastantuono's definitive arrival at Real Madrid, the decision for Nico Paz is simple: he'll stay another year at Como. This will raise the price for his return to Real Madrid to €10 million.
If he had returned this summer, the outlay would have been only €8 million. Looking ahead to next season, the buy-back clause price will rise a bit more. In any case, Madrid consider this practically crumbs for signing a player of Nico Paz's quality and potential.