Brazil international Luisao has been a long-term target for Juve, which know that Benfica are among Portuguese clubs interested in Tiago.
Olympique Lyon president Jean-Michel Aulas, meanwhile, believes Tiago has struggled in Italy because of Serie A's physical nature.
"It was a difficult sale," said Aulas, "technically Tiago is super, but physically he isn't. Could we re-sign him? We haven't considered it, we already have Mathieu Bodmer and Fabio Santos."