Como have made their position clear on Nico Paz, with TeamTalk reporting that the Serie A club have no intention of sanctioning a January sale despite mounting interest from Chelsea, Arsenal and Manchester United. For now, the message from Italy is firm, and it centres on one of Europe’s fastest-rising attacking midfielders.

The 22-year-old has become a key figure in Cesc Fàbregas’s plans since arriving from Real Madrid in 2024. After a 2025/26 campaign that delivered 13 goals and eight assists in all competitions, Como moved to make the deal permanent for €60million, which is £50.3m. That outlay already looks justified.

Paz’s recent Champions League performance against Manchester United, when he registered two goals and an assist, has only intensified the spotlight. Chelsea have tracked him closely, while Arsenal and United are also credited with strong interest. TeamTalk states that “Como have no intention of selling Nico Paz in January” and that view appears to be shared throughout the club.

Como stance on Nico Paz

Internally, Paz is regarded as central to the project. As TeamTalk explains, “Como view Paz as indispensable to their ambitions, particularly as they compete in the Champions League for the first time in their history.” That line gives useful context to their refusal to entertain winter approaches.

The report adds that “Club sources have repeatedly emphasised that the player is not for sale in the short term,” with Fàbregas also valuing stability in his attacking structure. Paz has settled well, developed quickly and, crucially, appears happy with the responsibility being placed on him in Italy.

Chelsea Arsenal and Real Madrid factors

There are further layers to this situation. Chelsea’s admiration is long-standing and Arsenal’s interest is noted, but Real Madrid still hold significant leverage through a buy-back clause worth €80million, which is £67.1m, active in the summer of 2027. TeamTalk also notes that “Sources have even suggested Como could demand €100million-plus from outside suitors,” which would place any deal well into premium territory, at least £83.9m.

That contractual protection strengthens Como’s hand and makes a January breakthrough highly unlikely. “Until then, Como are expected to hold firm and protect one of their most valuable assets.” In practical terms, this feels like a story that will build towards the summer rather than one resolved in the next window.

For full credit, the original report comes via TeamTalk. Their summary of Como’s position is blunt and definitive: “there is no way they will sell the star in January, hands off.”

Summer transfer window may define next step

If Paz maintains this level through the second half of the season, interest will only intensify. His value could rise further, his profile could broaden again and the queue of elite clubs may lengthen. At present, though, Como are protecting an asset they see as vital, and every indication is that Arsenal, Chelsea and others will need patience.

Our View

This is exactly the kind of update that invites excitement, even if the short-term outlook sounds closed. A player producing those numbers, thriving in the Champions League and being described as indispensable to his club is naturally going to catch the eye. The attraction is obvious. Paz sounds like the sort of attacking midfielder who can shift a match with one clever pass, one sharp movement, or one decisive finish.

What stands out most is the timing. January always felt difficult once Como made him permanent and built so much around him. If they are in the Champions League and treating him as a cornerstone, there was never much reason for them to weaken mid-season. That part rings true.

The more intriguing angle is whether the summer becomes a genuine opening. If the price climbs towards €100million, which is £83.9m, then any move becomes a major strategic decision rather than an opportunistic signing. Arsenal would need to be completely convinced that Paz is not only talented, but the right fit for the structure, the pressing demands and the creative burden in big matches.

There is also the Real Madrid element hanging over everything. A buy-back clause always changes the mood of a chase because it can leave other clubs doing the groundwork only for Madrid to step in at the perfect moment. Even so, this is one to watch closely. If an elite creator with upward momentum becomes available, it is hard not to be interested.