As things stand, this is a story that has cooled rather than caught fire. Arsenal hold a reported interest in Nico Williams, with a fee in the range of £50.4m to £71.2m floated, and the 23-year-old Spain attacker said to be open to a move. But the live picture has shifted: Williams is now tied to Athletic Club on a contract running until 2035, and the most recent reporting points to a renewal that has dampened any exit signal. There is no bid, no agreement, no advanced talks — only sustained interest. The sourcing is solid but thin on substance. Fabrizio Romano, a benchmark voice, reported just two days ago that a new contract at Athletic has weakened the exit signal. Before that, Graeme Bailey described Arsenal's continued concrete interest with the player open to leaving, and ESPN FC carried a more speculative, aggregated link. Credible names, then, but all pointing to interest rather than momentum. The engine's 7% marks this as a genuine longshot. For it to complete, Arsenal would need to act decisively against a player who has just committed long-term, prising him away from a club under no pressure to sell. The recent renewal is the heaviest weight against it: with a deal until 2035 and the exit signal weakening, the obstacles far outnumber the green lights. Arsenal know this market well. They paid Real Sociedad £60m in 2025 and Chelsea £64m in 2023, so the fees being discussed are entirely in keeping. Athletic, too, have sold big before — £68m to Chelsea in 2018. Watch for any cooling of the renewal talk, or a concrete opening bid. Without one, this stays dormant.