If L'Equipe are correct and the Reds are indeed in the race to sign the Frenchman, it's not going to be easy.
Atletico have a transfer ban until January, so Lacazette would have to wait to play for the Rojiblancos.
Lacazette progressed through the ranks at Lyon before making the senior cut in 2010.
After spending his entire career so far with Lyon, though, Lacazette is eager to leave his boyhood club for a fresh challenge.
Aulas has confirmed Arsenal have bid for Lacazette but does not expect the striker to leave this summer.
Should Lacazette join the Gunners this summer, it would give Arsene Wenger some relief knowing that he has secured a possible replacement for Alexis Sanchez, whose contract runs out in 12 months time. Mourinho, though, is keeping his options open should he fail to land the Real Madrid striker and he has, thus, set his sights on Lacazette. However, since 2004, the club haven't built a team that has challenged right until the end of the season, meaning they have had no title glory for 13 years.
Lacazatte had actually firmly insisted in May he would only relocate to a club who were able to use him Champions League football, with Collection's failure to finish in the leading 4 meaning they will certainly miss out on following period's competitors.
The 26-year-old has reached the limit of what he's likely to achieve with Lyon and has shown he's worthy of a move to a top side.