Manchester United have signed Bologna and Netherlands striker Joshua Zirkzee in a deal worth £36.54m.

The 23-year-old has signed a five-year contract at Old Trafford, with the option of a further 12 months.

Zirkzee’s Bologna contract included a 40m euros (£33.6m) release clause, but United opted to agree a slightly increased price in order to pay the fee over a three-year period to help with Profit and Sustainability Rules.

Zirkzee becomes the first signing the men’s side have made since Sir Jim Ratcliffe became co-owner by purchasing a 27.7% stake in the club last December.

He scored 12 goals in 37 appearances last season as Serie A side Bologna claimed a surprise spot in this season’s Champions League.

Zirkzee joined Bayern Munich from Feyenoord in 2017, before moving to Bologna for about £7.15m five years later after loan spells with Parma and Anderlecht.

He was named in Ronald Koeman’s Euro 2024 squad but made just two substitute appearances for the Netherlands, who lost to England in the semi-finals.

Zirkzee, the 2023/24 Serie A Under-23 Player of the Year, said it was “a privilege to join such an iconic club” and he is “ready for this next challenge, to go to another level in my career and win more trophies”.