Aston Villa plan to invest the cash raised from Jack Grealish's sale back into the squad.
Grealish is set to join Manchester City for a fee of £100m.
The Daily Mail says Villa want to build a side to challenge the top six in the Premier League and have completed the signing of Bayer Leverkusen winger Leon Bailey for £30m.
They also want to add Southampton's James Ward-Prowse, Chelsea's Tammy Abraham, Todd Cantwell of Norwich City and Manchester United defender Axel Tuanzebe.
Grealish is expected to join City later today.
