Arsenal have reportedly agreed a deal with Bologna for Riccardo Calafiori.
As reported by Fabrizio Romano, the Gunners are set to pay €40m (£33.7m) plus €5m (£4.2m) in add-ons, with a sell-on clause also inserted into the deal.
It is anticipated that personal terms will not be an issue as Arsenal look to secure the signing of the defender.
Calafiori joined Bologna from Basel last year for just £3.4million and the Swiss club will receive 50 per cent of Bologna's profit if he moves. Bologna and Basel need to agree the sell-on payment terms as the final step in the deal.
Capable of playing at centre-back or left-back, Calafiori has five Italy caps, three of which came at Euro 2024.
Arsenal are reportedly close to agreeing a deal with Bologna for defender Riccardo Calafiori
Mikel Arteta is eager to sign Calafiori, whose versatility makes him a useful asset
He missed Italy's defeat against Switzerland in the round of 16 through suspension.
Calafiori has made 33 appearances for Bologna and helped the club to qualify for the Champions League for the first time.
Calafiori featured in all three of Italy's group stage fixtures during Euro 2024
The defender came through the ranks at Roma, for whom he made 18 senior appearances. Calafiori also had a loan spell at Genoa prior to signing for Basel in 2022.
Arsenal's only senior signing so far this summer has been David Raya, with the goalkeeper joining permanently from Brentford following his loan spell last season.
Calafiori's versatility could make him a major asset for Arteta, who likes for his players to be able to operate in different positions.