COMO, ITALY – APRIL 12: Nico Paz of Como 1907 celebrates after scoring their team’s second goal during the Serie A match between Como 1907 and FC Internazionale at Giuseppe Sinigaglia Stadium on April 12, 2026 in Como, Italy. (Photo by Marco Luzzani/Getty Images)
Como are expected to secure a €60m deal to keep Nico Paz at the Stadio Sinigaglia on a permanent basis, but given that Como are already on the brink of breaking financial fair play regulations, why are they able to fork out such a significant sum so early on in the transfer window?
Why are Como able to spend so much on Nico Paz?
According to reports from various outlets on Friday, Real Madrid will activate their €9m buy-back option for Nico Paz, and Como will spend €60m to sign him back immediately. This deal is also expected to include another €80m buy-back option in favour of Real Madrid, which will only be valid in the summer of 2027.
Given that Como have the wealthiest ownership group in Serie A, it is not a question of how the club can afford the signing of Nico Paz, rather how they are able to get around UEFA’s financial fair play rules.
According to La Gazzetta dello Sport, the short answer is that they won’t.
Como have qualified for the Champions League for the first time in the club’s history, which will bring an increase in revenues compared to last season, but this also means that the club will be under fiercer scrutiny from UEFA and their financial sustainability rules.
UEFA will examine Como’s financial accounts in the coming spring. This review will be based on the previous three financial years (i.e. 2023-24, 2024-25 and 2025-26). Like all clubs competing in Europe, Como must not exceed losses of over €60m over that three-year period, and first-team expenses must not exceed 70% of the club’s overall revenues.
La Gazzetta dello Sport reports that Como will ‘inevitably exceed these limits’. Saturday’s report notes that Como were €50m in the red in 2023-24, which shot up to €132m in 2024-25. It is expected that there will be an improvement in the club’s next financial statements for the 2025-26 season ending on June 30, but La Gazzetta dello Sport predicts that losses will still be around €100m.
La Gazzetta dello Sport claims that Como are now looking at the possibility of entering a settlement agreement with UEFA next year, as has happened with several Serie A clubs in recent seasons, and this could limit the club’s ability to spend for the following three or four years.
UEFA tend to look favourably upon clubs who spend on ‘rational investments’ and upon owners who have a proven track record of injecting funds into their club. Como’s ownership group have reportedly poured €390m into the club since they took over in 2019.
While Como are expected to be in the red by UEFA’s financial fair play rules, the club has no debts with any lenders and boast net assets in excess of €54m. Additionally, Como will be ‘first time offenders’ if they breach UEFA’s financial fair play regulations, and again, there is hope that the governing body will look favourably upon the club as a result.
