Chelsea hijack Real Madrid’s next Galactico transfer

Robin Bairner

7 Nov 2025 07:08 GMT
4 min read

Chelsea are targeting a move for Nico Paz, the Como playmaker who has been earmarked as the next Galactico at Real Madrid.

Article continues under the video

The 21-year-old Argentine has emerged as one of the most exciting talents in the game during his stint in Serie A, which has seen him record 10 goals and 12 assists since the beginning of last season.

Paz’s explosion has seen many top clubs target him, with Chelsea adding him to their transfer shortlist after missing out on Xavi Simons in the summer, according to TBR Football.

Current ETV

Nico Paz

AM, M (C)

Como

Nico Paz

AM, M (C)

Como

ETV Range

€62.7M - €76.7M

The Blues face an uphill battle to land the youngster, though.

An Estimated Transfer Value (ETV) of around €70 million is unlikely to prove to be the big obstacle to landing the South American – but the player has his eyes set on a return to Real Madrid, who sold him to Como in 2024.

Transfer corresponded Graeme Bailey explained: “Nico Paz is standing firm. Real have told him he is coming back, and he believes he is going to be a key player for them in the near future.

“But I can confirm that Paz is really attracting interest now. Spurs have never gone away, but now Chelsea have asked about him. They have really liked what they have seen, but the message back was that he has his heart set on Real.

“We know that Liverpool and Manchester City have also looked, so safe to say if Paz does not head back to the Spanish capital, there is a very good chance he would be EPL-bound.”

Real Madrid have a triple lock on Paz

Real Madrid seem to have Paz’s future locked down, with numerous clauses giving Xabi Alonso’s side the opportunity to re-sign him.

Indeed, he is a Como player by name only. Los Blancos truly hold the keys to the flair-packed youngster.

The Bernabeu side has €10m a buy-back clause valid in 2026 and the opportunity for matching rights should another club have a bid accepted by Como. Finally, they also boast a 50% sell-on fee after selling the Italian club the player for a bargain €6m.

When Spurs moved for Paz in the summer, they pulled strings to ensure that no bid was accepted. This could well mean that they ultimately pay Como a figure above his bargain buy-back clause next summer.

Chelsea’s interest in Paz is understandable, but unless there’s a remarkable turn of events, Real Madrid have an iron grip on the player.

The FootballTransfers app

Check out FootballTransfers' new app for all of football's big storylines, transfer rumours and exclusive news in one convenient place directly on your mobile device.

The FootballTransfers app is available on Google Play and in the Apple App Store. Download here:

•Google Play

•App Store