Full Breakdown
Como's €60 Million Nico Paz Signing Faces UEFA Financial Fair Play Scrutiny
6/27/2026, 9:04:34 PM
Record Transfer and Immediate UEFA Implications
Como completed the acquisition of midfielder Nico Paz from Real Madrid for €60 million, a deal approved by the Hartono family and executed by President Suwarso. The signing coincides with Como’s first-ever qualification for the UEFA Champions League, which will subject the club to UEFA’s financial sustainability assessment beginning in the 2026-27 season.
Financial Background and Ownership Support
The Hartono family, owners of a $44 billion fortune, have injected €390 million into Como’s British parent company, Sent Entertainment, since 2019. As of 30 June 2025 the Como group reported a net worth of €54 million and held no bank debt. The club is expanding beyond the first team, launching new business lines that include a youth academy, retail stores, real-estate holdings and digital ventures aimed at diversifying revenue.
Recent Financial Performance
In the 2023-24 season, Como’s final year in Serie B, the club recorded a €50 million deficit. After promotion, the 2024-25 Serie A campaign produced a consolidated loss of €132 million, of which €105 million originated from the core entity Como 1907 and the remainder from ancillary activities. Projections for the fiscal year ending 30 June suggest an imbalance approaching €100 million, even after excluding “virtuous” expenses such as the academy, women’s section and infrastructure. Over the three-year period (2023-24 to 2025-26) the aggregate loss is expected to exceed UEFA’s €60 million ceiling.
UEFA Financial Fair Play Rules Applicable to Como
UEFA’s “football earnings rule” limits an aggregate loss to €60 million over three consecutive seasons, with a possible increase of up to €10 million per year for clubs demonstrating sound financial health. The “squad cost rule” requires that first-team salaries, transfer amortisation and agent fees not surpass 70 % of gross revenue. UEFA officials will review Como’s accounting documents for the 2023-24, 2024-25 and 2025-26 periods in spring 2027 at the Nyon headquarters.
Official Club Position and Planned Response
Como anticipates negotiating a recovery plan with UEFA, likely in the form of a three- to four-year settlement agreement, a route taken by most major Italian clubs. The club acknowledges the need for tighter cost control and expects possible restrictions on assembling its UEFA squad list. Post-COVID regulatory changes favour capital contributions over debt, allowing loss-tolerance thresholds to rise when losses are covered by shareholder injections. The club’s strategy emphasizes boosting revenues through Champions League prize money, leveraging tourism around Lake Como, and increasing player-trading activity.
Future Outlook
The spring 2027 UEFA assessment will determine whether Como must adopt a formal settlement. Long-term sustainability will depend on the club’s ability to convert its expanded commercial ventures and European competition earnings into a balanced financial model while maintaining competitive performance on the pitch.
