Arsenal are reportedly monitoring Como star Nico Paz ahead of a potential move in the January transfer window.
The 22-year-old has established himself as one of Serie A’s leading young attacking midfielders under former Arsenal captain Cesc Fàbregas.
Spanish outlet ElDesmarque reports Arsenal are already following Paz closely and could attempt to make progress over a deal in January 2027.
There is, however, a major complication.
Real Madrid retain considerable control over the Argentina international’s future.
Real Madrid could complicate Arsenal move
Paz remained at Como this summer after the Italian club completed a permanent deal worth around €60million.
Real Madrid subsequently retained a unilateral option to buy their academy graduate back for the 2027/28 season.
That clause has been officially confirmed by Real Madrid.
ElDesmarque reports the option is worth €80m — around £69m — and claims Madrid would have an important say if Arsenal turn their interest into a concrete proposal.
The Spanish giants could ultimately activate the clause themselves before deciding whether Paz should return to the Bernabéu or become available for another transfer.
That makes Arsenal’s potential pursuit more complicated than simply negotiating a fee with Como.
Nico Paz continues rapid rise at Como
It is easy to understand why Arsenal are interested.
Paz produced 12 goals and six assists in 35 Serie A matches last season, helping Como qualify for the Champions League. He has already opened his account this campaign with a goal in the 4-1 victory over Genoa.
His development under Fàbregas has transformed him from a highly-rated Real Madrid prospect into an established No.10 at senior level.
Paz also specifically requested to remain in Italy for this season, something Real Madrid confirmed when announcing the new agreement in June.
For Arsenal, any interest would fit a wider emphasis on acquiring high-level players who can operate in several attacking and midfield roles.
ReadArsenal has tracked the club’s recent recruitment in our complete Arsenal 2026 transfer round-up.
Supporters can also follow the wider market through ReadArsenal’s Arsenal transfer news hub.
For now, Arsenal’s interest remains at the monitoring stage.
But if they decide to move in January, Real Madrid’s unusual position in Paz’s future could become just as important as any negotiation with Como.
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