A fee has yet to be formally agreed, but the two sides are close enough in their valuations that Spurs have been granted permission to speak to the French number one.
“We were close to Tottenham and the decision is now up to Hugo, who must have had a number of contacts with the English club,” Aulas told the club’s official website.
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“This transfer can be done at the end of the transfer window.”
Aulas also inferred that Lyon’s current financial constraints, and a need to trim their wage bill, have factored into their decision to allow Lloris to leave.
"Would it be better for us to see him leaving? Since we have an objective to reduce the wage bill, this transfer enters in our programme,” Aulas continued.
“But if he stays here, we will be very happy."
France manager Didier Deschamps, who played in the Premier League briefly with Chelsea, has also revealed that he has discussed the move with Lloris.
"I talked with him by phone," Deschamps said. "He has a choice to make between Lyon & Tottenham. I talked with him but what was said concerns just me and him. He has until Friday to decide, we will see."