Arsenal have signed Italy defender Riccardo Calafiori from Bologna for a fee of up to £42m including add-ons.

The 22-year-old, who started Italy's three group games at Euro 2024, has signed a five-year deal with Mikel Arteta's side.

He has immediately joined up with his new team-mates in Philadelphia

"I'm really happy to be here," said Calafiori. "I waited a lot.

"I hope we are going to do something great this season."

Calafiori, who spent one season at Bologna, can play as a central defender or at left-back - and has previously played on the left wing.

He played 30 times for Bologna in Serie A last season, scoring two goals and recording five assists as they finished fifth to seal a Champions League spot.

Arteta described Calafiori as a "great signing".

"Riccardo is a big personality and character, with specific skills which will make us stronger as we push to win major trophies," he added.

"He has already shown great development in recent seasons with his performances for both Bologna and Italy, with his progression and development in the past year being really impressive.

"We're looking forward to working with Riccardo, integrating him into the squad, and supporting him in the years to come."

Calafiori was named Serie A's player of the month in May - and won all five of his senior Italy caps this summer.

He made his senior debut for Roma in 2020 and had a loan spell at Genoa before joining Basel in 2022.

The defender spent one season in Switzerland before Bologna signed him for £3.3m.

Calafiori started his career as a left-back who could play further forward, but mostly featured as a central defender under Bologna boss Thiago Motta, who has left for Juventus this summer.

Juve and Chelsea were among the other teams to be linked to him.

He could compete with centre-back Gabriel or left-back Oleksandr Zinchenko for a place at Arsenal, who are thought to see him as an option for both positions.

Arteta's side are hoping to challenge for a first Premier League title in 21 years after back-to-back second-place finishes.

The Gunners are set to sell midfielder Emile Smith Rowe to Fulham for an initial £27m with the potential of £7m in add-ons.