Grealish’s availability has caught the attention of a number of clubs this summer after Villa failed to secure promotion back to the Premier League in May.
The club faced the possibility of selling Grealish to raise some much-needed cash.
New investors have taken over at Villa Park but 22-year-old Grealish could still be sold at a knock-down price of £20m.
Tottenham are yet to sign any players in the transfer window this summer - the only team to do so in the Premier League bar Burnley.
Tottenham transfer news: Jack Grealish failed to get promoted with Aston Villa last season (Image: GETTY)
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Spurs are currently financing the building of their new stadium, with transfers likely to be scaled down in the coming years.
Discussing their transfer plans on Wednesday, manager Mauricio Pochettino said: "I don't know if we are going to sign or not. We're working on that.
"I cannot tell you if we're going to sign one, zero, two or three or four."