Bakayoko is currently on loan from Chelsea to AC Milan, where his performances have been described as being 'not to the best of his ability'.
But the Italian newspaper claims the midfielder is unlikely to make a mid-season move to Fulham, whose enquiry has been 'all but shut down'.
It adds that Milan's agreement contains a €35 million (£30.5 million) option-to-buy Bakayoko, for whom they paid a €5 million (£4.4 million) loan fee a year after his £36 million transfer to Stamford Bridge.
Fulham, who are managed by the under-pressure former Chelsea midfielder Slavisa Jokanovic, have utilised close ties with their west London neighbours to acquire loan players like Tomas Kalas and Lucas Piazon in recent campaigns.
The Cottagers have particularly struggled defensively upon their top flight return, and landing Bakayoko - who operates primarily as a midfield anchor, could go some way towards addressing that problem.
Would Chelsea's Bakayoko be a good addition for Fulham?