Depay, 26, has been heavily linked with a move to the LaLiga giant, where his former Netherlands head coach Ronald Koeman is in charge.
But his impressive displays for Lyon have unsurprisingly caught the eye of their Ligue 1 rivals.
PSG are interested in Lyon star and Barcelona target Depay, according to Le Parisien.
The report says Depay is appreciated by PSG's players, particularly stars Neymar and Kylian Mbappe.
Depay, who has scored six goals in 14 games for Lyon this season, is out of contract at the end of the campaign.
Staying at PSG and they could seemingly also compete for the signature of another Lyon star. RMC Sport reports PSG is still interested in midfielder Houssem Aouar, who has been heavily linked to Arsenal.
Isco's future looks to be away from Real Madrid. Marca claims the LaLiga giant is pushing the midfielder, who is contracted until 2022, out amid links to Arsenal and Everton.
Everton is also linked to Tottenham midfielder Dele Alli. The Daily Star reports they are ready to make a loan move for Alli – who has struggled for game time this season – in January.
After being thrashed by Stuttgart, Borussia Dortmund sacked coach Lucien Favre. Gianluca Di Marzio reports the Bundesliga club already has an agreement in principle with Borussia Monchengladbach boss Marco Rose to take over ahead of 2021-2022.
Papu Gomez's Atalanta career appears to be over. Sky Sport reports the attacker, who has been at the club since 2014, could leave in January amid a tense relationship with coach Gian Piero Gasperini.