Arsenal boss Arsene Wenger is ready to welcome new signing Lukas Podolski from FC Cologne.

The Sunday Mirror says a fee of £10million has been agreed and Podolski will sign a five-year contract at around £80,000 a week.

The 26-year-old striker has been on Arsene Wenger's wanted list for the last two years. Both Arsenal and Cologne were keen to finalise the deal before the European Championship started in June.

Podolski did not want to interrupt his preparations with the Germany squad, who are among the favorites to win the tournament.