Newcastle United have been heavily linked with the 23-year-old striker as Alan Pardew plots another raid on the Ligue 1 ranks.
He may have to look elsewhere for a proven goalscorer, though, as Lacazette is on the verge of agreeing fresh terms at Stade Gerland.
Lyon are reluctant to see another frontman slip through the net, with Bafetimbi Gomis having joined Swansea City on a free transfer, and have warned those looking at Lacazette that he remains a key figure in their future plans.
Club chairman Jean-Michel Aulas told L’Equipe about the France international, who scored 23 times in all competitions last season: “We are in talks and I don’t know if he will prolong for two or three years. Whatever happens, he is not for sale.
“The club’s strategy has been to build an education centre that produces high quality players. We will give them the opportunity to have success at Lyon.
“The difference between here and other clubs is that we set a strategy and we keep it for five years.”
Meanwhile, Aulas has also revealed that Lyon are closing on a deal for Paris St Germain defender Christophe Jallet.
The 30-year-old will be allowed to leave the French capital if PSG can find cover at right-back.
Aulas added: “We are close to sorting it out. But it doesn’t depend on us anymore, or Christophe, or PSG directly. It will only depend on whether they can find a replacement for him in Paris.”