It's understood that the French forward has joined the Spanish side on an initial loan deal with an option to buy.
Atlético Madrid are expected to completed the transfer for €33.5 million (£30m/$41m) with a potential €5 million (£4.5m/$6m) in bonuses. Atletico Madrid will pay a €1.5m loan fee as part of the deal as well.
Dembele has spent the last two-and-a-half years with Lyon, having originally signed from Celtic for €22 million (£20m/$27m) in the summer of 2018.
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