Tottenham have shown strong interest in Nico Paz following his impressive season in Serie A, but Italian club Como have rejected their initial offer. According to Sky Sport Italia, the Premier League side’s bid of €40 million (£34m) was considered insufficient and was turned down.
The Spurs view the 20-year-old Argentine as an immediate attacking reinforcement following the departure of club legend Heung-min Son and the confirmed anterior cruciate ligament injury to midfielder James Maddison.
Tottenham's proposal for Paz
Como’s refusal is largely due to the contractual situation with Real Madrid, Nico Paz’s formative club. The Spanish giants retain a buy-back clause at a low price and are entitled to 50% of any future sale. This arrangement means Como would profit less from a transfer unless the fee far exceeds the current offers.
Despite his young age, Paz is regarded as one of the most promising talents in European football. His standout season in Italy’s top flight has attracted attention from Inter Milan and Real Madrid, who have not ruled out a future return.
Como reportedly would only consider negotiations if an offer approached €70 million (£60m). Offers between €60-70 million (£52-60m) could trigger more serious talks, Sky Sport Italia suggests.
Real Madrid's clauses still weigh
The buy-back clauses significantly reduce Como’s potential earnings. For example, if Tottenham’s €40 million (£34m) bid had succeeded, Como would only retain half the amount after Real Madrid’s cut.
Como are now aiming to negotiate directly with Real Madrid to remove these clauses, which would give the Italian club greater control over Paz’s future and allow for a higher transfer fee.
While Real Madrid reportedly do not plan to trigger the buy-back this season, they remain closely monitoring Paz’s progress and could exercise their option in 2026 or 2027 if his development continues.
