Arsenal are finalising a deal for Bologna defender Riccardo Calafiori for a fee expected to be worth a combined £42.1m.

Bologna have been holding out for that figure, and Sky Italy have reported discussions continue over a payment structure and clauses. There is agreement on many aspects of the deal at this point, but it is it still not fully done.

Personal terms are not expected to be a problem. Calafiori’s former club Basel stand to make 50 per cent of Bologna’s profit on any deal.

Sky Sports News has been told another Premier League club, as well as Juventus and Real Madrid tried to sign the player in the last 10 days.

However, Calafiori only wanted Arsenal and gave his word he would join the Gunners. His representative Alessandro Lucci from The World Soccer Agency worked with both clubs over the past month to ensure a deal would get done.

Bologna bought him last summer for €4m (£3.4m).

The 22-year-old defender shone at Euro 2024 despite Italy’s early exit in Germany, with his presence sorely missed through suspension in the then-holders’ last-16 exit to Switzerland.

Who are Arsenal trying to sign this summer?

Left-back is an area to address, with Oleksandr Zinchenko not having the same impact last term. In addition to Calafiori, David Raya has completed a permanent move but attacking additions cannot be ruled out if Eddie Nketiah and Emile Smith Rowe move on as expected.

Arsenal’s pre-season fixtures

• July 24: Arsenal vs Bournemouth
• July 27: Arsenal vs Man Utd
• July 31: Arsenal vs Liverpool
• August 7: Arsenal vs Bayer Leverkusen
• August 11: Arsenal vs Lyon

When does the summer transfer window close?

The 2024 summer transfer window in the Premier League officially closes on August 30 at 11pm UK time.

The Premier League has brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.