Chelsea have moved into pole position, after Real Madrid
indicated they will persevere with French flop Karim Benzema.
Valencia remain under financial pressure to sell and the Blues
are waiting to take advantage.
Villa's £30million price tag would instantly solve the La Liga
outfit's financial problems, after their failure to sell their
legendary Mestalla Stadium to property developers.
At 28, the Spain striker is seen as the finished article and he
has a strike record and reputation feared worldwide.
Villa initially claimed he did not want to move abroad, as his
wife had just given birth to their second child, and named Real as
his preferred destination.
Despite Real's continued interest, though, Bernabeu president
Florentino Perez spent nearly £50m on Benzema last summer and Real
are not prepared to give up on the former Lyon forward.
Chelsea's interest in Villa has increased in recent weeks with
their failure to reach agreement on a new contract with Nicolas
Anelka.
Anelka's deal runs out in 17 months time and chief executive Ron
Gourlay has been told to reduce the club's extraordinary wage
bill.
The French forward is demanding £120,000 a week, £40,000 a week
more than he currently earns.