Arsenal is set to complete the first major summer signing for around £40m after a major breakthrough…

Arsenal on the verge of securing their third major signing of the summer following a significant development.

The Gunners are close to finalizing their first major signing of the summer after making progress in negotiations with Serie A side Bologna.

Arsenal is nearing the completion of their first significant summer signing, with talks progressing positively with Bologna for the acquisition of defender Riccardo Calafiori.

The club is expected to shell out approximately £40 million for the 22-year-old, and reports from Italy indicate that the deal could be concluded within the week.

Arsenal has already made David Raya’s loan permanent for £27 million this summer and recently acquired 18-year-old English goalkeeper Tommy Setford from Ajax.

However, Calafiori will mark their first major transfer as they bolster their squad for the upcoming season in their quest to challenge Manchester City.

Negotiations regarding Calafiori’s potential move to Bologna progressed significantly over the weekend, with a sell-on clause being a crucial aspect of the talks. This clause stipulates that Basel, his former club, will receive 50% of any transfer fee.

Arsenal is keen on acquiring a left-footed defender this summer and has successfully fended off interest from Juventus and other Premier League clubs in their pursuit of the Italian defender, who is capable of playing as a centre-back or left-back.

Calafiori has received praise from former Juventus defender Leonardo Bonucci, who expressed disappointment over his old club’s decision to sell the player to Arsenal.

“I regret Calafiori’s transfer. I would have preferred to see him at Juventus,” Bonucci stated recently. “He is a defender with a unique style compared to what we are accustomed to.”

“He is a talented player with a great personality and seamlessly integrates into the team. We are sending off an exceptional player who will serve as a cornerstone for the national team for the next 15 years.”

Calafiori, who recently showcased his skills at Euro 2024 for Italy, has been enjoying a well-deserved break. He was expected to join Bologna for pre-season training this week.

Bologna has been preparing for Calafiori’s exit and rumors suggest they are eyeing Daniele Rugani from Juventus and Mats Hummels, formerly of Borussia Dortmund.

Arsenal is looking to make additional signings this season, with a midfielder and another forward at the top of their list.

Arsenal is also seeking to strengthen their goalkeeping unit, as they recently had a £50,000 offer for Wolves goalkeeper Dan Bentley turned down.

Wolves are prepared for another bid, but they are not looking to sell Bentley unless a suitable offer is made to reinvest in the team.

Setford, who was signed from Ajax for less than £1m, is now part of the 26-man Arsenal squad that departed for the United States on Sunday for their pre-season tour.