Real Madrid eyeing summer moves for Fernandez, Paz and Schlotterbeck

Real Madrid are preparing for a significant squad overhaul this summer, with Chelsea midfielder Enzo Fernandez, Como's Nico Paz, and Borussia Dortmund defender Nico Schlotterbeck among their primary targets, according to analysis from FootballTransfers. The Spanish giants, facing a second consecutive season without a major trophy, are expected to be active in the transfer market alongside the appointment of a new manager following Xabi Alonso's January dismissal.

Enzo Fernandez has emerged as a key objective, with the Argentina international reportedly viewing a move to the Bernabeu as a dream destination. Sources indicate Fernandez hinted at a desire to leave Chelsea throughout March, which led to a temporary sanction from the club. Although his relationship with Chelsea is now said to be repaired, speculation over a summer exit persists. Real Madrid's long-standing interest in the midfielder is expected to crystallize into a formal pursuit, a move that could be facilitated by the potential sale of French midfielder Eduardo Camavinga.

Another likely arrival is Nico Paz, with Real Madrid set to trigger a buy-back clause to re-sign the 21-year-old from Como for a fee of just €9 million. The Argentine wonderkid, who made eight first-team appearances for Madrid before his 2024 departure, has flourished in Serie A. His return would add depth to an attacking midfield department featuring Jude Bellingham and Arda Guler. Similarly, his Como teammate, Spanish defender Jacobo Ramon, is also subject to a Madrid buy-back clause. While a 2027 return was initially planned, reported interest from Arsenal and Chelsea could force Madrid to accelerate those plans by a year.

In defense, Nico Schlotterbeck remains a possibility despite signing a new contract with Borussia Dortmund until 2031 in early April. It has since emerged that the new deal contains a release clause valued between €50 million and €60 million, with Real Madrid and Liverpool among a select group of clubs eligible to activate it. The German centre-back is a top target for Madrid as they plan for the long-term futures of Antonio Rudiger and David Alaba.

Further afield, Madrid are also monitoring AZ Alkmaar's highly-rated Dutch midfielder Kees Smit, who is attracting widespread European interest. While Barcelona, Chelsea, Liverpool, and Manchester United are also linked, Madrid are considered his strongest suitors and are tracking him regularly ahead of a potential summer deal. These prospective moves signal a clear intent from the La Liga club to refresh their squad after a disappointing campaign.