According to a report by Football Transfers on Saturday November 7, 2026, Como sporting director Carlalberto Ludi has addressed speculation surrounding Nico Paz's future at the Italian club amid growing interest from Real Madrid and Arsenal ahead of the 2027 summer transfer window.

The Argentine midfielder has attracted significant attention following his impressive performances in Serie A and the Champions League, with several European clubs reportedly monitoring his situation.

Real Madrid are particularly interested in bringing the 22-year-old back to the Santiago Bernabeu after including a buy-back clause in the agreement that took him to Como.

Arsenal have also been linked with the attacking midfielder, whose performances have established him as one of the most exciting young talents in European football.

Speaking to Radio Radio, via Tuttomercatoweb, Como sporting director Ludi acknowledged the growing speculation surrounding Paz and admitted that the situation is something the Italian club will have to manage.

He explained that Real Madrid are regularly linked with their former players, especially during transfer windows, making the situation familiar to Como supporters.

Ludi, however, insisted that Paz remains fully committed to Como and that the club are currently focused on enjoying his contributions rather than worrying about his future.

"The truth is that we made a good deal last summer. Nico Paz is 100% a Como player. Real Madrid retained a buy-back option by a certain date during the transfer window, as is normal," he said.

The Como official also admitted that a potential departure would represent an important achievement for the club, particularly considering the work they have done to develop the midfielder.

"It would be a sale that would enhance our work and would also be important for the club," Ludi added.

He further explained that Como would work out how to handle the situation during the season, pointing to the excellent relationship between the Italian side and Real Madrid.

Ludi also described Paz as an incredible champion, making it clear that Como appreciate the quality he brings to the team.

Real Madrid's interest in the Argentine is supported by the buy-back clause reportedly worth €80 million, which Fabrizio Romano revealed is valid for the summer of 2027.

The Spanish giants initially allowed Paz to leave for Como in 2024 for approximately €6 million before the Italian club subsequently secured his full rights in a deal worth €60 million.

However, Madrid ensured they retained an opportunity to bring him back, putting them in a strong position ahead of the next summer transfer window.

Despite their contractual advantage, Real Madrid could still face difficulties convincing the midfielder to return.

Paz reportedly had the opportunity to rejoin the Spanish club last summer but decided against the move because of concerns about his first-team opportunities.

The Argentine was worried that he would struggle to secure regular playing time at the Santiago Bernabeu, where competition for attacking positions remains intense.

That situation could become an issue again in 2027, particularly with Jude Bellingham and other attacking talents competing for places in the Madrid squad.

Meanwhile, Arsenal could attempt to take advantage of any uncertainty surrounding his potential return to Spain.

The Premier League side are understood to be interested in strengthening their attacking options, and Paz's creativity, technical ability and eye for goal make him an attractive prospect.

His recent performances have only increased his reputation, including his involvement in Como's remarkable 9-1 Champions League victory over French side Lens.