Arsenal, Chelsea suffer transfer blow as winger signs new contract

Arsenal and Chelsea have suffered a major transfer blow barely a few days into the summer transfer window.

This comes as the recent report revealed that Gunners and the Blues target and Athletic Bilbao winger Nico Williams has entered early negotiations to extend his stay at San Mamés.

The 22-year-old, who is considered a promising attacking talents in the La Liga, is said to have commenced fresh talks with his boyhood club, according to journalist Ben Jacobs.

Williams has a release clause worth €58 million (£49 million) in a contract that runs until June 2027.

An extended deal could strengthen Athletic Bilbao’s position amid interest for him from top clubs in Europe.

Arsenal are one of the long-time admirer of the winger, and had been reported to be making moves to sign him this summer.

Manager Mikel Arteta was said to have personally spoken with Williams to consider a future at Emirates Stadium.

But, the asking price for a potential deal, including wages and agent fees, pose a challenge, not only for Arsenal but also for Chelsea, who who were also interested in the winger.

With the latest update on William, both Arsenal and Chelsea will have now to turn their attention elsewhere.