Forest are in dire need of right-back reinforcements with loanee star Djed Spence from their promotion season unlikely to return to the club.
Spence is the subject of interest from Tottenham Hotspur and is expected to move to North London this summer.
Head Coach Steve Cooper has identified Williams as his top target to fill this position and the newly promoted side have supposedly begun to step up their pursuit of the Welshman.
Their initial bid of £11 million with a potential £4 million in add-ons has been rejected by the Reds, according to journalist Alan Nixon.
Liverpool are said to be demanding a straight up fee of £15 million, with no instalment payment structure or potential add-ons. Fulham, where he spent the duration of the second half of last season on loan, are also said to be interested in the 21-year-old.
Although Fulham’s interest could prove to be problematic in Forest’s pursuit of the player, Cooper knows Williams having worked with him previously in Liverpool’s academy.
The right-back is also said to be keen on linking up with the former Swansea boss again.
The Wales international made 15 appearances for the Cottagers and netted twice as they secured promotion back to the Premier League last season.
He made his senior debut under Jurgen Klopp back in 2019 and has featured 33 times for his parent club.
Despite showing signs of promise when deployed under Klopp, the German boss has this summer brought in Aberdeen right-back Calvin Ramsay for £6.5 million.
The new signing is expected to provide cover and competition for Trent Alexander-Arnold, essentially rendering Williams surplus to requirements.
With the World Cup fast approaching, the defender will be eager to receive ample game time as he looks to cement his place in Rob Page’s squad for Qatar.
The Neco Williams transfer saga is only just beginning.