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.

Calafiori 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."