The Lyon chairman says there are no offers currently for the France goalkeeper, and that any deal would need to be tied up before next Monday, or he will remain in France
Goal.com exclusively revealed on Tuesday that new Spurs boss Andre Villas-Boas was preparing a fresh £13.5 million offer for Lloris after seeing his intial £12m proposal turned down last week.
But Aulas has stated that there are currently no bids on the table, and that any interested parties have until Monday to intensify their interest in the 25-year-old.
He told reporters: "There is no official offer for Hugo Lloris. If it is not sorted out on Monday, he will stay and everyone will be happy."
The Ligue 1 side value the former Nice man at €20m (£15.8m), but it is questionable whether he will be in the Premier League in the near future, with Spurs' valuation a little way short.
Villas-Boas wants a new number one to replace 41-year-old Brad Friedel as he prepares for his final campaign as a professional, and was hoping to take advantage of Lyons desire to sell Lloris.
However, Spurs chairman Daniel Levy is unlikely to pay the full asking price for the French international, but is hopeful an agreement can be reached before the new season kicks off.
Brazilian keeper Heurelho Gomes could be sold in order to free up room on the wage bill for the Frenchman, who is expected to command around £80,000-per-week.