Moggi, attending his criminal trial over the 2006 match-fixing scandal which led to his ban, confirmed media reports that Bologna wanted to hold talks with him.
"Bologna is a great city. I'm pleased there are people who have the confidence to talk to me," he told reporters.
By potentially taking a consultancy role, Moggi could argue that he was not employed by the club and was therefore not contravening the ban.
Bologna have declined to comment on the issue, while Italian soccer federation president Giancarlo Abete told reporters he was adamant that people banned from football must stay away from the game.
"We must recognise the decisions of sporting justice," he said.
Genoa president Enrico Preziosi was also banned for five years because of a financial scandal but continues to run the club.
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