Arsenal is circling Nico Williams again, and this time the club appears serious enough to put real money behind it. The north London side has held discussions about activating the Athletic Bilbao winger’s release clause, pegged at £77 million, roughly €90 million, as they look to reshape their attack ahead of the 2026-27 campaign.

Manager Mikel Arteta and sporting director Andrea Berta are both understood to be pushing hard for the deal.

Why Williams, and why now

Williams had a breakout moment at Euro 2024 that made the whole continent sit up. He was one of Spain’s standout performers as La Roja won the tournament, playing with a directness and confidence that looked several levels above what most wingers his age were producing.

Arsenal spotted that early. Their interest in Williams dates back to at least 2024, and an initial attempt to bring him to the Emirates fell short. The renewal of that pursuit now suggests the club believes this summer offers a cleaner run at the deal, particularly with Williams himself reportedly open to a move to the Premier League.

The release clause structure matters here. A release clause takes a lot of the messy negotiation off the table. Athletic Bilbao cannot demand more than £77M if Arsenal decide to trigger it formally.

Arteta has reportedly described Williams as one of the best wingers in Europe.

The competitive picture

Arsenal isn’t shopping in a vacuum. Williams attracted enormous attention after Euro 2024, with Barcelona among the clubs heavily linked. The fact that he remains at Bilbao heading into another summer window suggests either that the right offer hasn’t materialized yet, or that Williams has been waiting for the right moment to make his call.

Arsenal, for their part, have been tracking multiple options. Morgan Rogers of Aston Villa has emerged as an alternative target at a comparable price point, which tells you something about the tier of player the club is targeting and the budget they’re prepared to deploy.

What this means for Arsenal’s summer and beyond

The financial commitment involved, £77M, is substantial but not reckless for a club of Arsenal’s standing. If Williams delivers even a fraction of what his performances at Euro 2024 suggested is possible, the investment looks reasonable over a five-year contract horizon.