Manager Francesco Guidolin has limited resources (JohnWalton/GettyImages)

Bologna FC 1909 - or Bolgna, as everyone calls them - travel to the San Siro on Sunday boasting an unbeaten Serie A record so far. They have gained 11 points from five games, with three home wins out of three (the first one in the opening day against AS Roma) and two away draws.

A win at Inter would propel them at least into second place and possibly first, provided AC Milan do not win at Chievo on Saturday night. But whatever the outcome of the San Siro trip, it seems that history is repeating itself in Bologna.

Last year, the 'Rossoblu' were in contention for a Champions League spot for most of the season before a late collapse put them out of the running for even an automatic UEFA Cup spot. That forced them to go through the Intertoto Cup, where Fulham put an end to their hopes.

Now, though it is very early season, there is again talk of a top-five finish - amazing considering that summer transfer activity had not given fans much hope. Bologna are stuck in the middle ground between big-spending clubs and those who cannot afford to buy before they sell: the fans are passionate but hardly the type to protest against the chairman for selling players, though there have been demonstrations in the past.

So, after last year's highly satisfying finish, the general opinion was that the club would be back among the also-rans with hopes no higher than taking a place in the top half of the table.

After all, brilliant midfield schemer Matteo Brighi had gone, along with some of last season's best contributors like Pecchia, Fresi (a goalscoring central defender) and Zauli, and the summer's only significant arrivals had been those of hard-working midfielder Leonardo Colucci, Emiliano Salvetti, Christian Amoroso, Marco Zanchi and the return of Michele Paramatti from his stint at Juventus.

The cupboard appeared to be bare for coach Francesco Guidolin, one of the most honest managers in Serie A. Unlike most bosses, Guidolin does not think and act as though he belongs to a superior species and is impossible to dislike.

The former Vicenza and Udinese coach likes skilled footballers, but the limited resources he has always had to deal with have deepened his affection for hard-working players. This Bolgona side has plenty of them, from midfield anchor Renato Olive to Colucci to Castellini to exciting winger Carlo Nervo.

Many have been surprised by how well the club has been doing without Beppe Signori, scorer of 49 goals in 96 appearances since 1998. Bologna's motto under Guidolin has always been 'safety first', and the Rossoblu were frequent 1-0 winners last year - meaning they relied heavily on someone taking the few chances created during open play.

Defender Fresi scored eight Serie A goals and Argentine centre forward Julio Cruz scored ten, so Signori's frequent absences through injury were not too costly.

But with both he and young local prodigy Giacomo Cipriani starting the season on the treatment table, it was feared Bologna might have trouble repeating their feats.

Eight goals have been scored so far, with three of them coming in last Sunday's 3-0 home win over Brescia - a game which signalled the rebirth of Cruz' reputation. A tall, gangly forward, he had never won over most of the fans' hearts because of some amazing misses. But against Brescia he displayed poise, good close control and scored twice.

This has fuelled speculation that he might be joining Valencia as soon as the transfer window reopens in January, and some fans in the 'curva Andrea Costa' - the home end - had already displayed a 'hands off Cruz' banner at the start of the game.

Hard business facts mean Cruz might depart, although he has hinted he might like an extension to his current deal, due to expire in June 2004. But with average gates of just under 30,000, Bologna cannot afford to compete with the big boys.

Wealthy owner Giuseppe Gazzoni Frascara had rescued the club from bankruptcy in 1993 (its current name as Bologna FC 1909 was meant to separate it from its previous incarnation, which had gone under) and has always followed a very budget-oriented policy.

This, however, has led to charges of lacking ambition, and last year growing dissent among fans led to Gazzoni Frascara stepping down from his position as chairman, although he is still owner.

They will probably never win the Scudetto again - they last did it in 1963-64, beating Inter, of all teams, in a play-off in Rome - but this kind of cautious approach will probably keep them in Serie A for a long time.