According to La Gazzetta dello Sport, Como will not be hampered by Financial Fair Play in the Nico Paz transfer, but will need to negotiate a settlement agreement.

Previously, Como's negotiations with Real Madrid over Nico Paz had stalled due to Financial Fair Play restrictions after they qualified for next season's Champions League. Here's how they can complete the transfer without triggering penalties:

"In spring 2027, UEFA officials in Nyon will review Como's accounting documents for an initial assessment. Their evaluation will be based on financial statements from the most recent three fiscal years: 2023-24, 2024-25, and 2025-26. Besides having no outstanding overdue debts, the club's accumulated losses over three years cannot exceed 60 million euros; if the financial situation is favorable, this cap can be increased by 10 million euros per fiscal year. This is known as the football profitability rule. Additionally, annual expenditure on first-team salaries, transfer amortization, and agent commissions cannot exceed 70% of total revenue (squad cost rule). Based on approved financial reports, Como will certainly exceed these limits. In the 2023-24 season, their last season in Serie B, the deficit reached 50 million euros; in the 2024-25 season, their first season after promotion to Serie A, losses surged to a combined 132 million euros, with Como 1907 itself accounting for 105 million euros, and the remainder from related operations. For the fiscal year ending June 30, the situation is expected to improve as revenue growth will outpace costs, but estimates show that the imbalance remains significant, still close to 100 million euros. Even excluding expenses considered beneficial investments such as youth academies, women's football, and infrastructure, the total three-year result will still far exceed the permitted limit," La Gazzetta dello Sport analyzed.

"By then, Como will negotiate a three- to four-year settlement agreement with UEFA, as many clubs have done before. The club will then need to strictly control costs, and the composition of the UEFA squad list is also expected to be restricted. The regulations introduced after the COVID-19 pandemic actually encourage clubs to inject capital rather than incur debt, as the loss tolerance threshold has been raised, provided these losses are covered by shareholder funding. UEFA prefers projects built on rational investment and shareholder support, which is precisely what Como aims to do. Since 2019, the Hartono family has injected 390 million euros into Sent Entertainment, the UK-based holding company, with the goal of providing the club with the resources needed to enhance competitiveness and build an ecosystem that can diversify revenue streams. As of June 30, 2025, the Como Group's net assets stood at 54 million euros, with no bank debt."

"We are still in an expansion phase, and launching new businesses brings additional costs, from the youth academy to retail operations. The goal is to achieve long-term sustainability. To do this, we must continue to perform on the field while leveraging the commercial and tourism advantages of the lake region, as Como cannot rely on a large local fan base like teams in major cities. Player transfers will also be crucial, presenting another challenge: generating sufficient revenue to cover costs. Champions League prize money, especially if obtained consistently, will help. In any case, for now, Como is 'clean' in UEFA's eyes," La Gazzetta dello Sport added.

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