Real Madrid have two weeks to trigger €9m Nico Paz buy-back clause

Real Madrid face a two-week deadline to re-sign Como attacking midfielder Nico Paz for €9m after their buy-back clause became active on Tuesday, according to Diario AS. Miss the window and the club would need to wait until 2027, when a final clause worth €10m kicks in.

Paz left the Bernabéu two years ago in a deal that included three staggered buy-back options, set to activate in 2025, 2026 and 2027. Real Madrid passed on the first clause last summer but have already decided to exercise the second, making the Argentine one of the most straightforward pieces of business the club will conduct this transfer window.

Personal terms are not expected to be a stumbling block. Paz has already agreed a contract with Real Madrid, though the club anticipates those terms will need revising upward given his breakout season in Serie A with Como, which attracted significant interest from several top European clubs.

The urgency around Paz’s signing comes amid broader upheaval at the club. A presidential election between incumbent Florentino Pérez and challenger Enrique Riquelme has been confirmed, and the uncertainty it has created has delayed the formal announcement of José Mourinho’s return as head coach. However, sources indicate neither development will disrupt the club’s summer recruitment plans.

Mourinho is reported to have requested as many as six signings ahead of his return to the dugout, with Paz pencilled in as the first arrival. The 20-year-old’s relatively modest buy-back fee makes him an efficient opening move before the club turns its attention to more complex and expensive targets.

Real Madrid’s need for squad reinforcement has been underscored by two difficult seasons, and the Paz deal — straightforward in cost and contractual terms — offers a clean start to what is expected to be a significant summer rebuild.