Real Madrid had a buy-back clause in Paz's contract, which would allow them to re-sign him for a relatively low fee. However, it seems that Paz is not interested in returning to his former club.
Real Madrid has a strong squad with many talented young players, including Franco Mastantuono, who recently joined from River Plate. This abundance of options may have contributed to Paz's decision to stay with Como.
It's worth noting that Real Madrid will have another opportunity to sign Paz next summer, when the buy-back clause increases to €9 million.