Turkish giants Fenerbahce are moving closer to making a formal approach for Atalanta forward Ademola Lookman as they intensify efforts to bolster their attacking options during the January transfer window.

Reports from Sport Mediaset journalist Orazio Accomando indicate that the Istanbul-based club are planning an initial proposal in the form of a paid loan valued at €5 million, with an option or possible obligation to complete a permanent deal for €37 million, a package estimated at about N62 billion.

Although discussions remain at a preliminary stage, Lookman has reportedly been identified as a top target by Fenerbahce as they seek to add quality and experience to their squad.

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Atalanta, however, are understood to favour an outright sale rather than a temporary arrangement. The Serie A side rate the Nigerian winger highly following his impressive displays in domestic and European competitions and are unlikely to agree to a loan deal unless it includes favourable terms that guarantee a future transfer.

Lookman, who is currently on international duty at the Africa Cup of Nations, remains an important member of Atalanta’s squad. Nevertheless, interest in his services continues to grow, with Fenerbahce now keen to test the Italian club’s resolve.

The development follows a summer transfer window in which the former Fulham player was strongly linked with a move to Inter Milan.

Despite speculation and reports of the player pushing for a switch, the deal failed to materialise after Inter declined to meet Atalanta’s valuation, leaving Lookman in Bergamo.

For negotiations to progress, much may depend on whether Fenerbahce are prepared to adjust their offer into a direct transfer or include a binding purchase clause under realistic conditions.

While talks have yet to reach an advanced stage, the Turkish club’s readiness to commit substantial funds suggests the situation could evolve rapidly in the days ahead.