According to a report by FootballTransfers on Saturday, November 7, 2026, Como sporting director Carlalberto Ludi has addressed speculation surrounding Nico Paz's future, insisting that the Argentine midfielder remains fully committed to the Italian club despite interest from Real Madrid and Arsenal.

Como have acknowledged the possibility of losing the 22-year-old but remain confident in their position as transfer rumours surrounding the midfielder continue to grow.

Paz has attracted attention following his impressive performances in Serie A and the Champions League, where he has established himself as one of Como's most influential players.

His latest outstanding display came on Wednesday when he helped Cesc Fabregas' side record a remarkable 9-1 victory over French club Lens.

Speaking to Radio Radio, as reported by Tuttomercatoweb, Ludi admitted that repeated speculation about Real Madrid's interest in bringing back their former player had become an issue the club needed to manage.

He said: "I put myself in Como fans' shoes because every November and March, whether due to journalistic speculation or other reasons, it always turns out that Real Madrid is bringing back all their players. This year, there's talk of Jacobo Ramon."

Real Madrid still have significant control over Paz's future through a buy-back clause reportedly worth €80 million, which becomes available in the summer of 2027.

The Spanish giants initially sold the midfielder to Como for approximately €6 million in 2024 before the Italian club later secured his full rights in a reported €60 million agreement.

Despite the potential financial implications of his departure, Ludi maintained that Paz remains a Como player.

"The truth is that we made a good deal last summer," he said.

"Nico Paz is 100% a Como player. Real Madrid retained a buy-back option by a certain date during the transfer window, as is normal. It would be a sale that would enhance our work and would also be important for the club."

Ludi also highlighted the positive relationship between the two clubs, while insisting that Como would address the situation when necessary.

Paz previously had an opportunity to return to Real Madrid but reportedly chose to remain in Italy because of concerns about securing regular first-team football.

That consideration could become important again next summer, particularly with competition from established attacking midfielders at the Santiago Bernabeu.