According to Calciomercato, the French striker is weighing up his options ahead of next summer, with interest from Italy and Spain to consider.
Juventus could even make a move for Lacazette in the January transfer window, when he will be available for a small fee as his contract draws to a close.
With Massimiliano Allegri back in charge, Juve are hoping to regain the Serie A title but have made a slow start to the season, taking just one point from their opening three games.
They have struggled for goals so far, despite Alvaro Morata and Moise Kean both returning to the club on loan.
Lacazette would give them another attacking option but there will be considerable competition for the 30-year-old’s signature.
Aware that they can’t continue to rely on an ageing Zlatan Ibrahimovic, AC Milan have also made their interest known.
He almost joined Diego Simeone’s side four years ago, after they reached a deal with Lyon, but it fell through because of a transfer ban.
Instead, Lacazette joined Arsenal for £46.5million in July 2017 and has gone on to score 66 goals in 172 games across all competitions.
Still, the move hasn’t entirely gone to plan for player or club, and both would seemingly appreciate a fresh start.
Lacazette expected to be the Gunners’ undisputed first-choice striker but was soon eclipsed by Pierre-Emerick Aubameyang, who signed from Borussia Dortmund just six months later.
With the exception of last season, he has consistently been outscored by Aubameyang ever since.
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