"Talks between the clubs could conclude on Friday about a deal that may amount to 60m euros", reported the BBC.
The French club's president Jean-Michel Aulas had hoped a bidding war would ensue for Fekir.
Fekir is understood to be keen to move to Merseyside, and there is an acceptance at Lyon that he will be leaving the club this summer.
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Liverpool are mindful of the dangers of letting the situation drag on throughout the summer, especially given the possibility of France going deep in the tournament.
Liverpool are also now being linked with Stoke City's Xherdan Shaqiri and The Independent state that the Reds "are primed to seal at least one new signing in the next 24 hours". "The deal is at a standstill".
There is no deal yet in place between the relevant parties, but Liverpool are expected to try to finalise an agreement before Saturday. The case won't certainly be resolved during the World Cup and I do not think that there will be changes before (the WC).
France's squad fly out to Russian Federation after their final friendly against U.S. in Lyon on Saturday.
"We have not set a base price because we have not discussed this yet".