Theodoros Zagorakis, captain of Greece's European championship winning side, has joined Bologna on a two-year contract, the Serie A club said on Friday.

The 32-year-old midfielder, named player of the tournament at Euro 2004, was released from his contract with debt-laden AEK Athens on Wednesday.

A proposed move to newly-promoted Spanish side Levante fell through on Thursday allowing Bologna to move for the former Leicester City player.

"We have signed Zagorakis on a two-year contract," Bologna president Renato Cipollini told Gazzetta dello Sport's website.

"With this signing we believe we have our squad for next season," he added.