The Daily Mail and goal.com suggest Arsenal have moved ahead of Liverpool in the race to sign the Swansea skipper after reportedly holding talks with the former Tamworth Junior League player's representatives.
Williams, who played for Belgrave Bullets as a junior, is also wanted by Brendan Rodgers, who worked with the player at Swansea.
Former Welsh striker John Hartson believes Williams, whose parents Errol and Lyn still live in Tamworth, could join a top six club.
He told the BBC: "Ashley is a player Swansea City wouldn't want to lose but the amount of money that comes in for these people, it's very, very difficult to turn it down.
He's improved massively in the last two to three seasons and he's a big, big player for Swansea City," added Swansea-born Hartson.
"He has had a fine career at Swansea. He is at that age where he is very comfortable with his game and on top of his game I believe.
"You love to be linked with big clubs. You do enjoy being on the back pages when a club comes in for you and it tests your resolve. It's whether Ashley wants to move."
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