Real Madrid let him go for a modest fee just two seasons ago. Now the club will have to bring him back at a vastly different price, but he has become a key piece who would fit seamlessly into Arbeloa’s system.
Nico Paz is a "mandatory" signing for Real Madrid. And not only because of the player's sporting interest, who has blown the door down at Como. The financial aspect is the other reason it's almost impossible for Madrid not to bring him back in the summer.
It is not just that the purchase option is €9 million, as last summer it was also very low, and Madrid showed no interest in the player. The key lies in the offers that are arriving for the Argentine international, some of them above €60 million.
A very high figure that forces Madrid to recover him to have absolute control over the player in the event of a hypothetical transfer. In other words, to guarantee 100% of the income from a potential sale.
Right now, Como holds 50% of Nico Paz's rights, and if he were transferred from there, both clubs would split any proceeds from a potential deal. A situation that is not advantageous for Madrid and that it will not allow, as it would mean giving up tens of millions of euros.
Nico Paz will return to Madrid; the white club will recover 100% of his rights, and from there, the young gem's future will be evaluated. The first step will be to assess the player's sporting interest, who has every chance to earn a place in the Madrid squad.
The second will be to analyze his market situation, given the possibility of a million-dollar sale, now with Madrid as the sole beneficiary of the transfer. Such a sale cannot take place in the same market where he is repurchased, as it is not allowed. It is called a "bridge transfer," and it is illegal.
Madrid will almost certainly repurchase Nico Paz next summer and would have to wait until the following transfer window to pursue a sale. That means that, at least initially, Nico Paz would be a signing in every sense of the word because he would start the season without fail with Real Madrid.
The fact is that Madrid is clear that it comes out ahead in any scenario after bringing back Nico Paz. It is a safe bet either sportingly or financially. For €9 million, it guarantees itself a footballer who could mark an era at Real Madrid or a player for whom it could receive a substantial amount of money.
According to Transfermarkt, Nico Paz's current value is €65 million. A valuation that only rises with each update. The player left Castilla with a market value of €10 million in July 2024, and in less than two years, has increased his value to €45 million.
The sporting aspect depends on many circumstances beyond the player's quality. One of them is competition, with players such as Brahim, Guler, or Bellingham himself occupying a similar position to Nico Paz. Also, who the coach will be next season. Arbeloa knows him perfectly; he has shown signs of his strong commitment to young players and catapulted him in the Juvenil A within the generation of Manuel Angel, Gonzalo, and Palacios.
It also depends on squad planning, which will involve changes. The player's opinion will also be important, given that maintaining the level of importance and prominence he has at Como may be difficult at Real Madrid. Precisely that was one of the reasons for his departure from Valdebebas in 2024.
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