However Atletico's transfer ban was upheld which means that they can not register new players until January 2018, similar to what happened with Barcelona where they signed Arda Turan and Aleix Vidal in 2015 but didn't register them until January 2016.
Were Lacazette to favour a move to Madrid, he will have to stay put and start the 2017-18 campaign at Lyon.
But the 25-year-old has refused to rule out sealing a switch to Atletico and waiting until January to be registered, like Arda Turan and Aleix Vidal did when signing for Barcelona in 2015.
Lacazette continued by flirting with a move to the Premier League, with reported interest from Liverpool and Arsenal described as "an interesting option".
"I did not about it think too much because the president [Jean-Michel Aulas] said it was not possible".
Lacazette was widely expected to leave the French outfit this summer and Los Rojiblancos were the leading candidates to sign the France worldwide, who scored 28 goals from 30 Ligue 1 appearances last season.
'It's [the Premier League] a handsome championship with interesting teams. "Dortmund is a great club".