This is around £9m (€10m) less than the £54.2m (€60m) originally being bandied about by the likes of the Guardian.
L’Equipe even claimed the deal was worth £73.3m (€81m).
Lille are also likely to secure the signing of Napoli goalkeeper Orestis Karnezis as part of the deal [L’Equipe].
Whilst the fee for the Nigerian striker, 21, is expected to rise dependent on his success with the Serie A club, it means Lille have a little less to work with should they move for Morelos.
Les Dogues have also admitted their interest in Gent’s Canadian striker Jonathan David, 20, who the Belgian’s are believed to value at £27.1m (€30m).
The French club have heady ambitions with their president Gerard Lopez claiming they have a budget capable of building a squad of Ligue 1 champions.
“The process is led by (sporting director Luis) Campos who offers profiles to Christophe Galtier,” said Lopez [L’Equipe].
“Where some are wrong is that they see certain names come out and think that we’re obligated to sign them.
“Even if we’re interested in one profile, it’s only in combination with others. We’re changing two forwards, it’s more complicated than selling a player and finding a replacement.
“The strength is the system and the quality of our scouting process.
“Our squad building will take place in the next two weeks.
“We’ll have no excuse not to be fighting at the top table, we don’t have a budget that allows us to look elsewhere.
“We’ll remain humble, but we will have talent.”
Rangers reportedly booted out a £13.7m bid for Morelos with the Ibrox club reportedly holding out for closer to £18.2m [FootMercato].
According to the Scottish Sun, Lille are likely to test the Ibrox club’s resolve with a bid in the coming weeks.