Chelsea have taken their first formal step toward signing highly rated Como midfielder Nico Paz, but early indications suggest the transfer could become significantly complicated. According to reports from CaughtOffside, the club has officially enquired about the 21-year-old as they prepare an ambitious move ahead of the 2026 transfer window. Chelsea believe Paz has the potential to become one of Europe’s top midfielders and want to act quickly before his projected valuation rises toward the €100 million mark that scouts expect within the next two years.
Paz has quickly established himself as one of the most sought-after creative midfielders in Europe, earning widespread admiration in Serie A for his intelligence, consistency, and impressive technical ability. Chelsea’s scouting team has placed him high on their list of long-term midfield targets, and the club is now evaluating whether a summer deal could be negotiated before interest from rivals grows stronger. However, they face considerable competition.
Arsenal are pushing hard to attract Paz to North London, positioning themselves as a more stable project within the Premier League. Tottenham have already made an early approach, but Como rejected their advances and refused to adjust their valuation or consider a quicker sale.
In Italy, the race is equally intense. Inter Milan are reportedly preparing a €58 million offer as they look to move early and outmaneuver their rivals. The Italian club views Paz as a generational talent and believes their presence in Serie A gives them a natural advantage in negotiations.
The most complicated factor, however, stems from Real Madrid. When the Spanish giants sold Paz to Como for €6 million, they included a 50 percent sell-on clause along with two key buy-back options: €9 million in 2026 and €10 million in 2027. These clauses give Real Madrid major influence over any future transfer and allow them to potentially block, delay, or redirect any deal involving Chelsea, Arsenal, Tottenham, or Inter. Madrid are monitoring Paz’s progress closely, and many within the club believe they may choose to activate the buy-back clause themselves if his development continues.
With Chelsea, Arsenal, Tottenham, Inter Milan, and Real Madrid all involved, the competition for Nico Paz is growing long before official bidding begins. Chelsea may have taken the first concrete step, but Madrid’s leverage and the rising interest from Europe’s top clubs suggest this could develop into one of the most intriguing transfer sagas leading up to the 2026 window.
