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Nico Paz rejects Tottenham Hotspur transfer for Real Madrid dream, says Fabrizio Romano; buy-back clause and Right of First Refusal explained

Real Madrid have €10 million buy-back clause in 2026 for Nico Paz but will compensate Como in future, Fabrizio Romano said while confirming another failed Spurs summer transfer bid

Nico Paz | AP

As expected, the versatile Argentine footballer Nico Paz has turned down a transfer offer from Tottenham Hotspur, causing another embarrassment for the club in the first summer transfer window since their Europa League win.

Football transfer expert Fabrizio Romano said that Nico Paz wants to continue at Serie A club Como because he still has a dream of playing for Real Madrid. Spurs were reportedly willing to pay Como €70 million for the 20-year-old, but the deal will not proceed as the player is not interested. Romano added that Spurs were never going to get their man anyway, as Madrid would have matched the deal to make him stay.

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On his X account, Romano posted: "Tottenham bid worth €70m package for Nico Páz has been turned down tonight. Páz wants to stay at Como with a view on a Real Madrid future + Real were going to match any proposal in any case. Real have a €10m buy-back clause in 2026 but will compensate Como in the future."

How can Real Madrid snatch Nico Paz from Spur and Como?

For the uninitiated, under the Right of First Refusal (or matching rights), Real Madrid would be informed if Como accepted any bids for Paz. Real Madrid would have the right to match the exact offer Spurs made, including the same transfer fee and conditions, and if that happened, Paz would have to return to the Bernabéu. There is also a buy-back clause attached to his Como contract by the La Liga giants. Como signed him for €6 million, but Los Blancos retain half of any future transfer fee. The club can re-sign him in future transfer windows at escalating prices of €8 million, €9 million, and €10 million in the next three summer windows.

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The Real Madrid academy product has played in the UEFA Champions League for his former club before his €6 million switch. This season, he has contributed nine assists and six goals for the Cesc Fàbregas-managed team. He was also named Serie A's Best Debutant and was included in the Team of the Season on FC25. The Argentine, who began as a defender in the Madrid academy, later operated on the wings before settling in midfield. Real used him as a substitute for Fede Valverde in a Champions League match before trusting him to replace Dani Carvajal on the right side of the defence in a league clash. In total, he made eight appearances for the club (four in La Liga) before being sold to the Italian side. In the new season, he scored in the very first game, hinting that his fine form is set to continue.

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Nico Paz is reportedly aware that Xabi Alonso likes his style and that the club legend may come knocking for him next season if not this. With his age and top-tier experience, Nico Paz has a chance of rejoining his former club to form the next 'Galacticos' era—a dream too good to give up. Spurs, meanwhile, are left embarrassed after losing the Eberechi Eze battle to Arsenal and failing to get Morgan Gibbs-White from Nottingham Forest. The failure of the Nico Paz saga to materialise could intensify the crisis for the London team.