According to John Richardson of the Sunday Mirror, the Championship club is hopeful interest from the Reds will lead to a bidding war between the clubs, although Liverpool haven't made an official offer for the player.
"The original asking price of £40 million has been drastically reduced to half that because Villa boss Steve Bruce has been told he can’t even bring in loan players until a significant sale of one of his stars," Richardson reported.
Tottenham are said to only be prepared to pay £15 million to sign the 22-year-old. As Richardson noted, Villa are in a difficult spot with their finances.
Last season, the Midlands-based club came close to earning promotion, making it to the Championship play-off final. However, Bruce saw his side lose 1-0 to Fulham, and now they face the prospect of losing one of their brightest stars in Grealish.
Martin Laurence of WhoScored.com feels Tottenham would be getting a bargain if they can land the England under-21 international for the kind of price mentioned:
Grealish was vital in Villa's progression to the Championship play-off final, as he played some of the best football of his career in 2018.
After a spell in the wilderness following Villa's relegation from the top flight at the end of the 2015-16 season, Grealish found his form again under Bruce last season. The midfielder brought a poise and an incision to the team's attacking play and made some vital contributions to the cause.
If Villa had been promoted, then you sense Grealish, a boyhood Villa fan, would have been happy to stick around and continue plying his trade with the club. But he needs to be playing in the top flight at this stage of his career.
Commentator Jonny Bentley thinks Grealish would be an ideal acquisition for Tottenham given the work manager Mauricio Pochettino has done at the club:
Jonny Bentley @SportsJonny
Jack Grealish is a very 'Tottenham signing'. They have a habit of signing top talents from lower clubs and bringing them up another level (Dele Alli, Kieran Trippier, Ben Davies, Kyle Walker). £20m is a decent price and I can see him thriving under Poch's management. #THFC #AVFC
This summer does feel pivotal for the midfielder. Under an experienced coach last season, he found consistency and confidence while playing regularly in his best position. If he does leave, he will want similar surroundings at his new club.
At Tottenham or Liverpool, who possess some of the most exciting attacking players in the Premier League, minutes would be tough to come by initially. However, if Pochettino or Jurgen Klopp were able to harness Grealish's sparkling natural talent, he would go up another couple of levels as a footballer.