Como have finalized a club-record €60 million transfer for Real Madrid midfielder Nico Paz, though the deal will bring the club under UEFA’s financial sustainability scrutiny starting in 2027, according to reports from Italy. The move represents a significant investment for the club, recently promoted to Serie A and qualifying for the Champions League for the first time in their history.
Backed by the Hartono family, whose wealth is estimated at $44 billion, Como have demonstrated a willingness to spend aggressively to accelerate their growth. While financial fair play regulations have not been an immediate concern, that is set to change with their entry into European competition. UEFA will begin monitoring Como’s finances from the 2026-27 season, assessing their compliance with financial sustainability regulations.
Como’s financial reports already indicate potential issues with UEFA’s regulations. In the 2023-24 season, while in Serie B, the club reported a loss of €50 million. This figure rose dramatically to €132 million in their first Serie A campaign, with €105 million attributed to Como 1907 itself and the remainder to related activities. While an improvement is expected in the current financial year, estimates still point to a substantial loss, potentially around €100 million. Even excluding investments in youth development, women’s football, and infrastructure, the club’s combined losses over a three-year period are projected to exceed permitted limits.
To address this, Como are anticipated to negotiate a settlement agreement with UEFA, similar to those previously undertaken by numerous other European clubs, including several Italian giants. This agreement would involve a three or four-year plan to restore financial stability, likely requiring restrictions on squad size and transfer spending for UEFA competitions. UEFA is generally receptive to projects backed by rational investment from ownership, and the Hartono family has already invested €390 million into Sent Entertainment, the club’s controlling entity, since 2019.
The club’s long-term strategy focuses on increasing revenue streams through commercial activities, tourism leveraging the proximity to Lake Como, and player trading. Success in the Champions League, and the associated prize money, will be crucial in achieving financial sustainability. For now, Como remains under initial assessment by UEFA, giving the club time to adjust and prepare for stricter financial oversight.
