Arsenal Tracking Nico Paz – But Real Madrid Hold €80m Buy-Back Clause Set for Summer 2027

Arsenal are monitoring Nico Paz, the 22-year-old attacking midfielder who joined Como permanently for €60 million in June. However, Real Madrid retained a unilateral buy-back option valued at €80 million for summer 2027, giving them decisive control over any Premier League move.

  • Player: Nico Paz, 22, attacking midfielder
  • Current club: Como (permanent deal worth €60m completed in June)
  • Arsenal interest: El Des Marque reports Arsenal are tracking Paz and could move in January 2027
  • Real Madrid clause: Unilateral €80m buy-back option for summer 2027
  • Contract: Paz is under contract with Como until June 2028
  • What's at stake: Arsenal must navigate Real Madrid's priority position to sign Paz

The numbers

  • 2024-25 Serie A: 35 appearances, 6 goals, 8 assists (Opta figures cited in the source)
  • Following season: 35 league games, 12 goals, 6 assists (Opta figures cited in the source)
  • Permanent fee to Como: €60 million (paid in June)
  • Real Madrid buy-back option: €80 million, summer 2027
  • Previous buy-back figure (before renegotiation): around €9 million
  • Latest impact: Scored his first goal of the current Serie A campaign in a 4-1 win over Genoa

Deal details

Como secured Paz on a permanent deal worth €60 million in June. Real Madrid hold a unilateral buy-back option worth €80 million, exercisable in the summer of 2027. According to El Des Marque, Arsenal are tracking the player closely and could look to move for him in January 2027. Paz's contract with Como runs until June 2028. Real Madrid officially confirmed that the arrangement allowing him to continue in Italy happened "a petición del propio jugador" – at the player's own request. Madrid had previously held a much lower buy-back clause, around €9 million, but chose to renegotiate when Como paid €60 million for full rights.

Why Real Madrid's clause gives them leverage over Arsenal

Nico Paz has become one of Serie A's most productive young midfielders, and that is precisely why Arsenal are watching him. But the structure of his exit from Real Madrid means any approach from the Premier League must account for a buy-back clause that Madrid can trigger in summer 2027. Arsenal are not simply negotiating with Como; they are stepping into a situation where Madrid can re-enter the picture at the most decisive moment.

The buy-back is not just a route to reintegration. It is a strategic asset. Madrid could bring Paz back for €80 million and then decide whether he strengthens their own squad or becomes a saleable premium talent in an even hotter market. That dual option gives Madrid control, and control is often as valuable as ownership. For Arsenal, it creates genuine uncertainty: move too early and they may prompt Madrid into action; wait, and his value may rise again if he performs in the Champions League and continues producing in Serie A.

Under Cesc Fàbregas, Paz has found minutes, responsibility and continuity. He played 35 Serie A matches in 2024-25, scoring six goals and providing eight assists. The following season he reached another level: 35 league games, 12 goals and six assists. Those are production levels that force bigger clubs to take notice, especially from advanced midfield zones. Como's rise into the Champions League places Paz on a bigger stage and offers a stronger test of his ceiling. His goal in a 4-1 win over Genoa was his first of the current Serie A campaign.

Three scenarios that could shape the 2027 transfer battle

The first outcome is simple: Paz stays at Como through the season, plays Champions League football, continues as one of the team's most influential figures and enters the 2027 market with his value higher than it is now. From a development perspective, this is the safest route – he knows the club, the coach, and he knows he will play.

The second is the Arsenal route. If the London club accelerate and present a serious offer in January 2027, the pressure shifts immediately to Madrid. Do they step aside and allow Como to negotiate, or do they use the contractual weapon they have preserved? Arsenal's scouting department, sporting leadership and financial planning would need to be perfectly aligned. Pursuing a player like Paz means preparing for interference from one of the few clubs capable of changing the market by themselves.

The third is the most obvious from Madrid's point of view: they conclude Paz is ready for the Santiago Bernabéu and activate the clause with the intention of keeping him. Madrid have seen enough homegrown players leave too early and blossom elsewhere. If they believe Paz can contribute to their own senior project, this becomes less a commercial exercise and more a squad-building decision.

Talking points

  • Arsenal moving in January 2027 would be a gamble – it could force Real Madrid to trigger their €80m clause, ending the race before it properly begins.
  • Nico Paz's numbers are excellent, but is he ready for the physicality and pace of the Premier League after three years in Serie A?
  • Como's Champions League campaign is the biggest variable – if Paz shines on that stage, Madrid will find it far harder to stay passive.
  • Madrid's €9m-to-€80m clause renegotiation looks clever now, but if Paz becomes a genuine superstar, will they regret not keeping him on a cheaper path?

What happens next

Arsenal's recruitment team will continue tracking Paz, but any decisive move is most likely to come in the January 2027 window or the summer that follows. Before then, Como's Champions League campaign and Paz's Serie A output will determine whether Madrid activate their €80m buy-back. Arsenal must decide whether to test Madrid's resolve or risk being priced out entirely. The next 12 months will define whether this remains a rumour or becomes a genuine transfer battle.

Frequently asked questions

Are Arsenal signing Nico Paz from Como?

Arsenal are tracking Nico Paz closely and could look to move for him in January 2027, according to El Des Marque. No deal has been agreed or confirmed.

Does Real Madrid have a buy-back clause for Nico Paz?

Yes. Real Madrid hold a unilateral buy-back option worth €80 million for the summer of 2027. They previously held a clause around €9 million but renegotiated when Como paid €60 million for full rights.

How many goals did Nico Paz score in Serie A?

In 2024-25, Paz scored six goals and provided eight assists in 35 Serie A appearances. The following season he recorded 12 goals and six assists in 35 league games, according to Opta figures cited in the source.

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