Real Madrid clause could block Arsenal move for Serie A star

October 2, 2026Jed Dogomeo

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Arsenal's long-running interest in Nico Paz comes with a significant complication attached — and it is written into the paperwork at the Bernabeu.

The Argentine moved to Como on a permanent deal during the summer, a transfer that only happened after Real Madrid bought him back following his first season in Italy. On the surface, that permanent switch opened a pathway for the Gunners, who have been tracking Paz for the past year.

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But according to Team Talk, Madrid inserted a sizeable buy-back clause into that permanent sale, giving the Spanish giants the ability to simply reclaim the midfielder whenever they choose.

Madrid hold the cards

The mechanics of the situation are straightforward enough. If Arsenal were to make a serious approach for Paz, Madrid could respond by triggering the clause and taking the 22-year-old back to the Spanish capital before any deal with the north London side could be completed.

That leaves Como and Arsenal operating within limits set elsewhere. Como are well aware they have an outstanding talent on their hands and that a club of their size is unlikely to keep him long term, but Madrid's contractual rights sit above any negotiation between the two clubs.

Paz's form has only made the picture more complicated. He has been central to Como's rise, helping drag the Italian side into the Champions League against the odds — a campaign that has inevitably drawn the attention of other leading European clubs alongside Arsenal.

The player's call

The one variable Madrid cannot fully control is Paz himself. Even with a buy-back clause in place, the report notes that the midfielder's own preference would carry significant weight in determining where he ends up.

That is where Arsenal's pitch becomes relevant. The Gunners would need to convince Paz that a move to the Emirates offers something a return to the Bernabeu does not — namely a defined role and consistent minutes at a stage of his career where development matters most.

It is an argument Arsenal have made successfully before with young talent, and one that carries some logic given how crowded Madrid's attacking midfield options tend to be. A player who has just spent a season dictating games in Serie A and in Europe may not be eager to go back and fight for scraps.

For now, nothing is imminent. Como are focused on making the most of Paz while they still have him, and Arsenal's position remains one of monitoring rather than acting.

It is also worth noting that this report comes from Team Talk rather than a tier-one source such as David Ornstein or Fabrizio Romano, so the specifics of the clause should be treated with appropriate caution until corroborated elsewhere.

What is clear is that any Arsenal pursuit of Paz will be shaped as much by a contract signed in Madrid as by anything that happens on the pitch in Italy. The Gunners will need both a compelling case and a measure of timing if they are to win that race.

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