Marco Asensio is out of contract this summer and Real Madrid are yet to offer him an extension.
Aston Villa keen on Real Madrid's Asensio
His preference would be to remain in Spain but a sizeable offer could force him to look to new pastures.
According to the Athletic, Aston Villa boss Unai Emery is desperate to add quality to his front line and sees Asensio as a player who can significantly improve the team.
In the event that Asensio and Real Madrid fail to come to agreement on a new deal, a number of clubs in the Premier League and Italy are interested in him.
Villa are keen to move to the next level and are believed to be willing to back the manager significantly this summer to achieve their goal.
Asensio has made 46 appearances for Real Madrid in all competitions this season, scoring eight goals and tallying six assists.