Leeds have identified Cornet as a target this summer as they seek to land a left-back; Ezgjan Alioski is expected to depart when his contract expires.
However, the Yorkshire giants are not keen to meet Lyon’s asking price for Cornet, set at £20m, and it has been suggested that they could wait to see if the fee needed to sign him drops.
Watford though have been linked with Cornet, a player they chased in January 2019, and it has been claimed that they are in talks to sign him.
Club sources have insisted that is not the case though and claim he is not on their list of targets for the ongoing window.
It remains to be seen if the situation might change later in the summer, with Cornet a player known to Watford.
Cornet, 24, could be sold by Lyon this summer, but the French side want to earn a fee they feel reflects his true value.
Watford meanwhile are moving to wrap up the signing of former Tottenham Hotspur left-back Danny Rose.