The former Scotland winger has been in and out of the Celtic team under Ronny Deila and started on the bench during the Hoops’ 0-0 draw with Ross County at the weekend.
Celtic sources claim contract talks with Commons and his representative are ongoing, but there has been no breakthrough as yet.
Commons, 31, is looking for a long-term deal and may have to look elsewhere for a suitable contract, despite Deila denying claims that the best the former Derby midfielder could hope for would be a flat one-year extension.
Former Hoops boss Lennon is prepared to strike a pre-contract deal with Commons but would be prepared to pay a fee to get him in January.
Lennon signed Commons for Celtic in January 2011, for £300,000 and the former Stoke and Nottingham Forest player hit 31 goals for Celtic last year, picking up two Player of the Year awards for his prowess in front of goal.
But Stefan Johansen is the preferred choice for the role behind the striker, and Commons has spent most of this season on the bench.
It is believed his preference is to stay in Glasgow but the stability of a long-term deal in England could be enough to tempt him south of the border.