Lyon president Jean-Michel Aulas has confirmed that Nabil Fekir has been given a deadline of January 1 to resolve his future, amid long-term interest from Premier League duo Liverpool and Chelsea.
The France international was on the brink of joining the Reds during the summer, only for a move to collapse at the last minute because of concerns with his medical.
Chelsea were subsequently linked with a move, as were German champions Bayern Munich, but neither club could agree a fee with Lyon.
With speculation regarding Fekir's next career move gathering momentum once again, Aulas has asked the 25-year-old to provide "a clear and precise" idea of whether he intends to sign a new long-term deal.
"For the moment, we haven't really got into a real discussion, even though we met three weeks ago," he said at the French club's AGM. "The sorting out of certain things regarding the question of his agent is underway.
"The aim is to have a clear and precise position from him between now and the end of the year. Jean-Pierre Bernes is still his agent, but he might not be between now and the end of his contract."
Fekir has scored 47 top-flight goals in 126 Ligue 1 appearances for Lyon, including two in eight this term.