Rangers have been linked with a whole host of players of late.
Leiva, 31, joined Lazio last summer from Liverpool and has been in excellent form this season, having a hand in 11 goals during his 49 league and cup outings. He scored four, while setting up seven.
The Scottish Sun claim Leiva is just one of a number of players Steven Gerrard is keen to sign, including Jermain Defoe and Martin Skrtel. Liverpool youngster Dom Solanke has also been linked with a move to Ibrox.
Thompson, who also turned out for the likes of Burnley and Cardiff City, responded in humorous fashion by suggesting Rangers were more likely to sign Atletico Madrid striker Fernando Torres this summer.
"There's a better chance of him joining Rangers than 'Jonny' Torres," Thompson said.
Leiva, a 22-time Brazil international, has two years remaining on the three-year deal he signed with Lazio last summer but could be tempted to rejoin former teammate Gerrard at Rangers.
The Gers boast a whole selection of central midfielders including new signing Scott Arfield, Graham Dorrans, Ryan JAck, Jordan Rossiter, Andy Halliday, Greg Docherty and Jason Holt, but surely Lucas would eclipse them all.