Pellistri has been with the Red Devils since the summer of 2020 but has only made 25 appearances across all competitions.
He has never been a guaranteed starter at United and Bologna appear set to make a move for him before the transfer deadline on August 30.
The Serie A side are looking to secure a strong rival for Dan N’Doye and Pellistri is seen as a suitable target for new manager Vincenzo Italiano.
Cagliari are also fans of the Uruguayan but Bologna could reportedly have the advantage due to connections made following Joshua Zirkzee’s move to Old Trafford.
The 22-year-old was a reserve player for the Red Devils, playing just 364 minutes last season before being loaned out to Granada for the second half of the campaign.
Pellistri played 31 minutes off the bench in Saturday’s Carabao Cup win over Manchester City but was likely forced to be substituted due to an injury to Harry Maguire.
The Uruguayan, playing in an unfamiliar right-back position, was instrumental in City’s equaliser when Bernardo Silva beat him with a header just inside the penalty area.
In our view, Pellistri needs to leave United in order to resurrect his club career, and Bologna, who will be in the Champions League next season, would be a good destination for him.
At United he faces stiff competition for the right wing role with the likes of Alejandro Garnacho, Amad Diallo, Anthony and Jadon Sancho and could face a challenge from N’Doye for a place at Bologna.
Transfermarkt value his fee at £8.6 million but United will be hoping for a much higher fee, with Bologna likely to be a more favourable destination than Cagliari after his huge improvement last year.
Transfermarkt.com statistics