Arsenal plan a stunning deal from Italy, with Real Madrid the biggest obstacle
The deal could go through in January
Arsenal are keeping tabs on Como star Nico Paz ahead of a potential swoop next January, according to a report on Monday.
One major obstacle stands in their way, though. Real Madrid retain significant control over the Argentina international's future.
Paz, 22, has grown into one of the brightest young talents in Italian football since swapping the Santiago Bernabeu for Como in 2024.
The Sun report that Arsenal are watching the attacking midfielder closely and could make their move in January. But there's a catch.
Real Madrid hold a buy-back option worth £68.7 million that becomes active in the summer of 2027. That gives the Spanish giants the power to bring their former academy star back to Madrid rather than let him move elsewhere.
Paz chose to stay with Como this summer despite the speculation surrounding his future, following another impressive season in Italy.
Los Blancos initially had the option to bring him back for around £9 million but decided against activating it. Como instead reportedly paid £51.5 million for full control of the player, with Real Madrid securing a new buy-back option worth £70 million for next summer.
All of this means Arsenal's pursuit may ultimately hinge on whether Real Madrid want Paz back at the Bernabeu. They will activate their option before deciding whether to keep him or listen to offers from other interested clubs.
The midfielder himself was keen to stay in Italy, where he has flourished under former Arsenal and Chelsea man Cesc Fabregas. Real Madrid confirmed that the decision to keep him at Como was taken "at the player's own request".
The Argentina star has become a pivotal figure in Fabregas's side, helping to lead Como into the Champions League.
Paz scored six goals and provided 8 assists in 35 Serie A matches during the 2024-2025 season. He kicked on again last season, netting 12 goals and six assists in another 35 league games.
He's already off the mark this term, too, curling in a stunning goal in Como's 4-1 win over Genoa.
Paz wears the number 10 shirt at Como and is under contract with the Italian club until June 2028.
