Real Madrid's decision to allow Nico Paz to remain at Como for another season has come under renewed scrutiny after the Argentine midfielder inspired another remarkable Champions League performance.

The 22-year-old scored once and provided two assists as Cesc Fabregas's side demolished Lens 9-1 on Wednesday evening, equalling the biggest winning margin in Champions League history and setting a new record for the competition's largest away victory.

Paz has now registered three goals and five assists in just four Champions League appearances this season, making him the competition's most productive player in terms of direct goal involvements.

His extraordinary form is particularly significant for Real Madrid, who agreed to let the midfielder continue his development in Italy during the summer but retained the right to bring him back in 2027.

With Como emerging as one of Europe's most exciting attacking teams, the decision to leave Paz under Fabregas's guidance is attracting fresh attention.

8 - Nico Paz leads all players for goal involvements in the @ChampionsLeague this season (3 goals, 5 assists). Only Raúl in 2002-03 and Neymar in 2016-17 have ever had more assists in their first four appearances of a single edition (6 each). Magic. https://t.co/SpSk28QrwH

— OptaJoe (@OptaJoe) November 5, 2026

Nico Paz outshines Champions League superstars after historic Como win

Como's astonishing victory in France featured a hat-trick from Anastasios Douvikas, but Paz once again demonstrated why he has become the creative heartbeat of Fabregas's team.

The Argentina international scored Como's third goal in the 40th minute, arriving in the penalty area to finish emphatically after being set up by Douvikas.

He then turned provider shortly after half time, releasing Lucas Da Cunha with a perfectly weighted pass for the visitors' fourth goal.

Ten minutes later, Paz supplied another assist for Douvikas, who completed his hat-trick as Lens's defence continued to unravel.

By the time the Argentine was withdrawn in the 58th minute, Como had scored six times, with their number 10 directly responsible for three of those goals.

His contribution followed an equally impressive performance against Manchester United on Matchday 3, when he scored twice and created another goal in a commanding 4-1 victory over Michael Carrick's side.

Those displays have propelled Paz to the top of the Champions League goal-involvement standings.

According to Opta, his eight direct contributions place him ahead of every other player in this season's competition, including Bayern Munich striker Harry Kane and Barcelona sensation Lamine Yamal.

Paz also leads the tournament's assist chart with five, having supplied two against Manchester United and another two against Lens.

Only two players have registered more assists in their first four appearances of a single Champions League campaign: Real Madrid legend Raul in 2002-03 and former Barcelona forward Neymar in 2016-17, who both recorded six.

The figures illustrate how quickly Paz has established himself among Europe's most influential attacking midfielders.

His outstanding performances have not been limited to continental competition, either.

Across Serie A and the Champions League, the Argentine has contributed six goals and eight assists in 13 appearances this season, underlining his importance to Como's increasingly ambitious project.

Fabregas's team currently sit fourth in the Italian top flight and occupy the same position in the Champions League standings, having recovered emphatically from their defeat to Feyenoord.

For a club competing in Europe's elite competition for the first time, that progress has been exceptional.

However, Paz's individual development also raises an intriguing question about the plans of the European champions who originally brought him through their academy.

Could Real Madrid activate Nico Paz's buy-back option in 2027?

Real Madrid faced an important decision over Paz's future during the summer transfer window.

Having sold the midfielder to Como in 2024, Los Blancos retained contractual mechanisms allowing them to regain control of his future.

Reports initially suggested that the Spanish giants were preparing to activate an existing buy-back clause, potentially paving the way for a return to the Santiago Bernabeu.

However, the two clubs eventually reached a different agreement.

On June 29, Real Madrid officially announced that Paz would remain at Como for the 2026-27 season, a decision made at the player's own request.

Crucially, the agreement also confirmed that Madrid would retain a unilateral option to buy back his registration rights for the 2027-28 campaign.

That arrangement allowed Paz to continue playing regularly under Fabregas while preserving a route back to the Spanish capital.

The financial details were not disclosed in Madrid's official announcement, although Spanish newspaper AS reported that the agreement involved a €60m (£52m) transaction and an €80m (£69m) buy-back option for summer 2027.

Madrid's decision was understandable given the competition for attacking midfield positions in Jose Mourinho's squad.

Jude Bellingham, Arda Guler and Brahim Diaz are among the players capable of operating in similar areas, leaving no obvious guarantee that Paz would receive the minutes he currently enjoys at Como.

His Champions League performances nevertheless strengthen the argument that he is developing into a player capable of competing at the highest level.

Real Madrid have not announced any intention to bring him back ahead of schedule, and a recent report from AS indicated that the club would not make a decision on its buy-back options before next spring.

For now, Paz remains central to Fabregas's plans, with Como preparing to host AEK Athens in their next Champions League fixture on November 24.

Madrid's decision to allow him another season in Italy has already helped the Argentine reach new heights. His continued progress will only make the question of what happens in 2027 more compelling.