The Frenchman spent last season on loan with Valencia, but Los Che declined to take up their permanent option.
And Aulas has revealed that the 26-year has recently approached the club.
"Eliaquim Mangala is among our options. He came to meet us," said Aulas.
"It is proof of a clear interest when a player takes the initiative to come and see the president of a club in which he wants to play.
"You know he belongs to Manchester City, that he's a candidate for the France squad if we qualify for Russia.
"It's Lyon's wish to have very ambitious recruitment in all its first teams. "