Real Madrid have already been very busy in the transfer market, with the signings of Ibrahima Konate and Denzel Dumfries wrapped up. Further additions are being sought, although one player that had been close to a Bernabeu return is now no longer expected to arrive in 2026.
For months, it has been reported that Real Madrid will re-sign Nico Paz when the summer transfer window re-opens. The Argentina international has been a revelation in Serie A since he signed for Como in 2024, and with Los Blancos having a very favourable buy-back clause at their disposal, it was taken for granted that it would be activated.
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But this is no longer the case. According to Alberto Pereiro, Paz will not return to Real Madrid this summer. It was previously reported that new head coach Jose Mourinho would have the final say on whether the buy-back clause would be activated, but it appears that he does not see the 21-year-old’s return with good eyes.
Why are Real Madrid not re-signing Paz now?
Image via Lewis Storey/Getty Images
In the event that Paz does not return to Real Madrid this summer, it means they would only have one more opportunity to re-sign him before their buy-back clause expires – that would be in 2027 when he can return for €10m. The decision not to re-sign him now will undoubtedly be questioned by the club’s supporters, but it could have something to do with him not having a clear route into the starting line-up under Mourinho – which would especially be the case when the expected arrival of Bernardo Silva is confirmed in the coming weeks.
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In a sense, it is smart for Paz to remain at Como for another season. The Serie A side will play in next season’s Champions League, and the Argentine will have the opportunity to keep developing as a player before an inevitable return in 2027.
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