According to Fabrizio Romano, time is running out to sign a rumoured Arsenal target as his release clause is set to expire soon.

Arsenal are set to finalise a deal to sign Italy and Bologna defender Riccardo Calafiori with personal terms already agreed upon.

A fee is being discussed between the two clubs and there is an expectation that a deal will be completed this week.

Once that's over the line, The Gunners need to act fast and work on a deal to sign a Euro 2024 star whose release clause expires on July 15.

TBR exclusively reported that Arsenal have been made aware of Olmo's PS50m release clause, though, it has now emerged that it's only valid until Monday, July 15.

The Spain and RB Leipzig playmaker netted a classy goal on Tuesday evening and is now in pole position to win the Golden Boot.

Arsenal have five days to complete a deal for his signature before his release clause expires - so they'll have to begin negotiations while he remains at the tournament.

Spain are set to face either the Netherlands or England in the final this weekend.

Dani Olmo profile Olmo can operate across a number of different roles, evincing his terrific versatility - a trait Mikel Arteta is very big on.

The 26-year-old can ply his trade off both flanks and as an attacking midfielder - where he has flourished in Germany.

If Arsenal were to activate his release clause, they'd be getting an 'incredible' (Bleacher Report) attacker for a pretty reasonable fee.