Explained: Why Real Madrid cannot re-sign in-demand Como star Nico Paz for €10m & immediately sell him for €60m in summer transfer window

Reports had recently circulated suggesting that Real Madrid were ready to activate a €10 million buy-back clause to bring Nico Paz back from Como, with the intention of instantly putting him on the market for a staggering €60m. Following a sensational season in Serie A, the 21-year-old has become one of Europe's most coveted assets, making the "buy low, sell high" strategy seem like a logical move for Florentino Perez.

However, journalist José Félix Díaz has clarified that "Real Madrid cannot buy back Nico Paz to then resell him in the summer market. Impossible. Twelve weeks must pass, that is, until the winter market."

This regulation effectively kills the prospect of Los Blancos banking a massive profit in the current window, as any player registered during the summer cannot be transferred permanently again until the January window opens.

This regulatory hitch places Mourinho in a complicated position. The Portuguese manager is currently overseeing a squad already boasting immense depth in the middle of the park, including the likes of Jude Bellingham and the recently arrived Bernardo Silva.

While Mourinho is reportedly keen to monitor all returning loanees, he is finding it difficult to offer the young Argentine the guaranteed minutes he has enjoyed under Cesc Fabregas in Italy.

As per reports, Mourinho held talks with Paz to discuss his role, but the "Special One" was unable to promise the regular first-team football the player desires. With Madrid also heavily linked with a big-money move for Chelsea star Enzo Fernandez, the path to the starting XI at the Santiago Bernabeu appears increasingly blocked for the academy graduate.

While interest from the Premier League has been high, with Arsenal noted as long-term admirers, Paz himself seems content to remain in Italy for the time being. The playmaker has formed a strong bond with Cesc Fabregas at Como, credits the Spaniard for his rapid development, and is motivated by the prospect of leading the club into their first-ever Champions League campaign next season.

Fabregas has reportedly promised the youngster a "vital role" in his tactical setup, a commodity that is far more valuable to Paz at this stage of his career than sitting on the bench in Madrid or London. Consequently, a loan extension or simply staying at Como for another season is becoming a more realistic outcome than a messy, multi-club transfer saga involving a mid-season sale.

Despite the temporary roadblock regarding Paz, Real Madrid remain active in the market as they look to refresh their squad under Mourinho’s leadership.

The club is handling several situations involving former academy stars, including Victor Munoz, who is expected to seek a permanent move to England rather than return to Madrid to fight for a place in an already crowded front line.

The hierarchy at Valdebebas must now decide whether to wait until January to cash in on Paz or allow him to continue developing in Serie A to further inflate his value. With his buy-back clause set at €9m this summer and potentially rising to €10m in 2027, Los Blancos still hold all the cards, even if they cannot cash them in as quickly as they had originally hoped.