Arsenal enter race for £69m attacking sensation as Real Madrid watch on – report

Arsenal could succeed where Tottenham Hotspur failed by signing Argentine maestro Nico Paz from Como, with a report explaining how a complicated deal with Real Madrid might be struck.

Paz came through the Madrid academy and went on to make eight first-team appearances for Los Blancos, scoring once. The central attacking midfielder, who can also play as a right winger, left Madrid for Como in a €6million deal in August 2024.

Paz has emerged as a key face of the Como project under former Arsenal star Cesc Fabregas, as he has managed 20 goals and 17 assists in 78 games for the club.

Last season, Paz was named Serie A Young Player of the Year after playing a crucial role in Como qualifying for the Champions League for the first time in their history.

Over the summer, Madrid activated their €9m (£8m) option to re-sign the playmaker, but he instead chose to stay at Como.

The Italian outfit reportedly paid Madrid a further €60m (£52m) to keep Paz. However, as part of the deal, Madrid maintained their €80m (£69m) buy-back clause to have some control over the Argentina international’s future.

According to online Madrid source Bernabeu Digital, Arsenal could ‘make a move’ for Paz in 2027 as the Gunners have expressed their interest in snaring him in a stellar transfer.

Tottenham reportedly failed with two bids for Paz in the summer, and Arsenal are now plotting a deal of their own.

Arsenal sporting director Andrea Berta opening talks with Como would ‘once again put Real Madrid at the centre of the transfer market’, due to their buy-back clause.

FIFA rules would prevent Madrid from activating that €80m/£69m clause before immediately selling Paz to Arsenal for an even higher fee. FIFA would demand Madrid to wait at least four months before negotiating that second move.

As such, the report explains how Madrid could ask for a compensation fee to allow Arsenal to sign the 22-year-old directly from Como.

Arsenal keen on huge Nico Paz deal

BBC Sport confirmed on Saturday that Paz was among several top-class forwards Berta and Mikel Arteta considered for Arsenal during the summer.

A return to Madrid would likely be Paz’s first choice, should he decide to take the next step in his career away from Como. The reason Paz did not join Madrid over the summer is that he wanted a couple more seasons with Como to continue his exhilirating development.

But we revealed on June 23 that Jose Mourinho does not see Paz fitting into his squad at the Bernabeu, which might open the door for Arsenal to swoop in at some stage in the future.

Arsenal are also interested in Paz’s Argentine compatriot Julian Alvarez, who is looking to force his way out of Atletico Madrid.

Arsenal believed they had the funds to complete a sensational €150m (£129m) deal for Alvarez in the summer, but he only wanted to join Barcelona.

Publicly, Atleti insisted they would not sell the striker under any conditions. Privately, though, it was reported that they were more inclined to sell to Arsenal than a LaLiga rival such as Barca.

Meanwhile, Arsenal have reached a decision on whether to sell current striker Viktor Gyokeres.