Arsenal and Barcelona have been handed a transfer blow with news that Nico Williams has signed a new deal at Athletic Bilbao.

Athletic Bilbao announced on Friday that coveted Spain forward Nico Williams had extended his contract to 2035 with an increased release clause, warding off reported interest from La Liga champions Barcelona.

“Athletic Club forward Nico Williams has put pen to paper on a 10-year deal keeping him in Bilbao until 30 June 2035,” a statement read. “Nico’s new agreement has an increase in the release clause of more than 50% over the previous one.