When Como clinched their historic Champions League qualification at the end of the 2025-2026 Serie A campaign, it seemed almost impossible to imagine their star player Nico Paz committing to another season in the Italian Serie A. Not because of the club’s financial strength, as Como are among the strongest clubs in Serie A from that standpoint, nor because of their sporting project, which is only set to become more ambitious in the years ahead. Simply because Real Madrid were controlling his future. However, it turned out differently for the Argentinian attacking midfielder as Como ended up signing him permanently for around €60 million, a record fee for the Italian club.

But how did Como manage to re-sign one of the brightest young stars and talents in world soccer? To understand this, it’s essential to delve into the special relationship between Como and Real Madrid, which has been building over the past two years.

A Special Relationship with Real Madrid

It all started in the summer of 2024 when Paz signed for Como for the first time. The two clubs agreed on a permanent deal worth $6 million, but Real Madrid kept control of the Argentinian player. So, how did they manage to do this? The Blancos had a 50% sell-on clause in case Paz ended up at another club, and in case another club enquired for him, they could have matched the final offer. Additionally, and most importantly, they had the right to re-sign Paz for the upcoming three summer sessions for a €9 million in the first year, €10 million in the second one, and then €11 million in the third summer.

For instance, when Tottenham approached Como in the summer of 2025 and offered around €70 million to sign the player, Real Madrid and Como agreed together to refuse the offer and turned it down. One year later, it turned out differently as Como agreed to sign him permanently for around €60 million, while Real Madrid will be able to re-sign the player in the summer of 2027 for €80 million.

The Como Project

There are multiple reasons why Paz preferred to stay at Como for another year. First of all, he realized that at Real Madrid it was challenging for him to become a regular starter, especially after the Spanish club signed attacking midfielder Bernardo Silva, who plays in a similar role. Then, at Como, he can regularly play in the Champions League after the Italian team clinched the historic achievement at the end of the past season.

But Como are not just a team like others that managed to qualify for the top European tournament once; they are just getting started. Their president, Mirwan Suwarso, recently explained to the BBC the idea behind the long-term project and treating it differently than a soccer club.