The 26-year-old Colombia international has courted interest from several clubs across Europe, with reports in Italy claiming it is Villa and Bournemouth who have shown the greatest interest from the Premier League.
But both are unwilling to pay the £24million release clause in the player’s contract. The clause is due to expire next month.
Villa are in the market for a right-sided centre-back after selling Diego Carlos to Fenerbahce in January.
Axel Disasi joined on loan from Chelsea for the second half of the season but did not feature after making an error which led to Villa conceding a late winner at Manchester City in April.
Sevilla defender Loic Bade was among the players Villa considered in the January window but a move this summer is not expected.
Unai Emery would also like to add a right-back and a winger with Real Betis teenager Jesus Rodriguez among their targets in the latter position.
Newly-promoted Leeds are the latest club to be credited with an interest in Alex Moreno, who will be allowed to leave the club this summer.