The Bundesliga giants have yet to make a formal move before the transfer window for the FIFA Club World Cup closes, as Williams has not given a definitive response to their interest.

Bayern are aware that prising Williams away from Athletic Bilbao would require triggering his 58 million euro release clause, a hefty sum for a player whose contract with the Basque club runs until 2027. Athletic, determined to keep their prized asset, have already begun discussions to offer Williams an improved deal to fend off interest from abroad.

"Nicholas is a key part of our project, and we're working hard to secure his future here," said Athletic Bilbao's president, Jon Uriarte, earlier this week. "He's a talent we believe can continue to grow with us."

The uncertainty surrounding Williams has left Athletic Bilbao on edge, as his potential departure would force them to act swiftly in the transfer market. Sources close to the club have confirmed that Norwich City's Borja Sainz Garcia is their top target to replace Williams should he leave.

Athletic have long admired the 24-year-old forward, but their need to cover for a possible Nicholas Williams exit has driven up the asking price for Borja Sainz.

Borja Sainz, who recently attended the Liga Futures tournament to support his young cousin playing for Athletic Bilbao's youth team, has also caught the eye of Porto.

The Portuguese side, led by sporting director Andoni Zubizarreta, offered 15 million euros for the forward, but Norwich City's sporting director, Ben Knapper, rejected the bid. Knapper, who joined Norwich in October 2023, believes better offers will come for Borja Sainz, particularly from Athletic Bilbao, who are seen as frontrunners for his signature.

"Borja's performances have attracted a lot of interest, and we're confident his value will only increase," Knapper said in a recent statement. Nottingham Forest also made a bid similar to Porto's, but Norwich City are holding firm, banking on Athletic Bilbao to meet their valuation if Nicholas Williams departs.

Athletic have an advantage in their pursuit of Borja Sainz, as the player has reportedly promised to listen to their offer before committing to any other club. However, with Borja Sainz expected to leave Norwich this summer, Athletic Bilbao must act quickly. The club cannot afford to let negotiations drag on while other suitors circle.

"We know Borja is a talent who fits our philosophy," said an Athletic Bilbao spokesperson. "But we need clarity on Nicholas' situation to move forward decisively."

As the transfer window heats up, Athletic Bilbao are at a crossroads, balancing their ambition to retain Nico Williams with the need to prepare for life without him. Borja Sainz, ready to step into the spotlight, could be the key to maintaining their attacking flair.

Report: Nico Williams' future sparks Athletic Bilbao's transfer frenzy