In a saucepan hit up the chicken broth. Set aside and keep it on simmer.
In another saucepan heat the butter, add the shallots and sauté until translucent, about 3 minutes. Add rice, cook stirring it for 1 minute. Add wine, stir and cook until absorbed. Add one ladle of broth at the time and cook stirring often, allowing broth to be absorbed before adding more. Continue adding the broth until the rice is cooked, but still al dente, about 20 minutes.
Take off heat. Add 2 Tbsp butter, the parmesan cheese and parsley. Taste the rice. Season with salt and pepper if necessary. Let it cool and refrigerate. If the rice is chilled it will be easier to roll into balls.
It's time to form the balls. Place some rice on the palm of your hand. Place a piece of the fontina cheese between equal amounts of mixture and form them into balls. Continue forming balls until all the rice mixture is used.
Set 3 plates side by side. Beat 2 eggs in a plate to blend. Place flour in another onel. Place panko in another one.
Roll the arancini balls in flour shaking off the excess. Then roll them in the beaten egg. Then roll them in the panko.
Fry balls in 3 inch oil at 375 degrees for 4 1/2 minutes or until they are golden brown. Drain them on a paper towel-lined plate.
Serve them plain, or with marinara sauce on the side.
If you would like to serve them at a later time, just before serving, place them on a baking sheet and re-heat in the oven at 400 degrees F for 7 to 10 minutes.
Note: (If you are able to make the risotto the day before, this will work in your favor as it can be refrigerated and the balls will stick together much easier that way).
Enjoy!