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Wenger's Arsenal will play Atletico Madrid and Rangers in July

Hosts Arsenal will be joined by Rangers, Paris Saint-Germain and Atletico Madrid in July's Emirates Cup.

PSG will take on Rangers in the tournament's opening fixture on Saturday 1 August, with Arsenal playing Atletico hours later.

The following day, Atletico and PSG will meet before Arsenal face Rangers.

"Rangers, Atletico Madrid and PSG will contribute to an exciting weekend of pre-season football," said Arsenal chief executive Ivan Gazidis.

"The tournament will provide a very competitive level of preparation for all the teams ahead of the 2009/2010 season."

Rangers manager Walter Smith added: "The Emirates Cup will capture the imagination of our supporters and everyone at the club is looking forward to competing against Arsenal and PSG.

"Arsene Wenger's side are one of the best in Europe and their young team will provide a stiff test for our players.

"However, it is a challenge they will all relish and our fans will enjoy both matches at the state-of-the-art Emirates Stadium."

PSG will not be managed by former Rangers boss Paul Le Guen, who is to leave the French club at the end of the current season.

But former Ibrox midfielder Jeremy Clement could feature in the meeting of the two sides.