According to the Matteo Moretto of Reloo, the Spanish giants have been set to the € 8 million and the 20-year-old will return to the club.
PAZ came to Como last summer for a reported reimbursement of € 6 million and has settled as one of the best young talents in Italy under CESC Fabregas.
The Argentinian was an important player for Como, because the newly promoted side insured a tenth placed finish in the Serie A, scored six goals and offered eight assists.
Incoming Real Madrid manager Xabi Alonso is conceived as a big fan of Paz, because he tries to bring some young talent to an aging team.