Sinisa Mihajlovic is waiting to take over the coaching reigns at Bologna.
Gazzetta dello Sport says Arrigoni cannot afford to lose to Cagliari this weekend or he will be sacked.
Meanwhile, Mihajlovic has already signed a pre-contract with Bologna and is making plans with Cesar being lined up as his first signing.
Mihajlovic worked with Cesar at Inter Milan and the Brazilian is currently a free agent.
Gianluca Pagliuca is also being linked with a return to Bologna as goalkeeper coach.