Manchester United completed the transfer of Bologna striker Joshua Zirkzee in a deal worth more than 40 million ($43m), the club announced Sunday.

Zirkzee signed a contract with United until June 2029 with the option to extend it for another season.

"Having had discussions with the manager and the leaders of the club I know how exciting the future is going to be here and I cannot wait to play my part in achieving success for Manchester United," Zirkzee said in a statement released by the club.

"I am a player who has always dedicated everything to winning; I'm ready for this next challenge, to go to another level in my career and win more trophies.

"It is a privilege to join such an iconic club. I have to take a short break now after being with the national team, but I'll be coming back ready to make an impact straight away."

Sources told ESPN that the two clubs had agreed to a deal worth more than the release clause in Zirkzee's contract to allow United to pay less of the fee up front. Zirkzee is United's first signing of the summer.

Zirkzee was a target for a number of clubs this summer, including AC Milan, last season's Serie A runners-up. He will compete with Rasmus Højlund for the starting striker spot at Old Trafford next season.

"Securing a forward to enhance our already strong group of attacking players was a key aim for this summer," United sporting director Dan Ashworth said in the statement. "We are delighted that we've managed to sign a player of Joshua's calibre this early in the transfer window.

"Joshua is an outstanding talent who is ready to make an impact for Manchester United. His ability and desire to grow into a world-class player means that he will be a great addition to the squad that we are building for the exciting season ahead and beyond."

The 23-year-old scored 12 goals for Bologna last season.

Information from ESPN's Rob Dawson contributed to this report.