Villa, like every other club in the division, have to adhere to profit and sustainability rules (PSR) or they could face a points deduction.
The rules state that clubs cannot post losses of more than £105m over a three-year reporting cycle.
After points deductions for Everton and Nottingham Forest in the 2023-24 season, every Premier League club was compliant in the campaign that followed – including Villa.
However, Emery’s side have had to move on a number of high-profile players in recent times – such as Douglas Luiz, Jhon Duran and Leon Bailey – as they work to remain compliant.
That is despite the club thriving under Emery, with the Spaniard guiding his side to seventh in the 2022-23 season after arriving in mid-season to replace Steven Gerrard, before qualifying for the Champions League in the next campaign.
Last season, Villa narrowly missed out on back-to-back Champions League qualifications by finishing sixth, on inferior goal difference to fifth-placed Newcastle United.
Having signed Marcus Rashford and Marco Asensio on loan on big wages in January, the club were looking to finish in the Champions League positions to maintain their spending.
But failure to do so has squeezed the club’s finances, affording them little room to invest in the squad.
Former Aston Villa defender Micah Richards said on BBC Match of the Day: “They need a little bit of freshness.
“With all the hard work they have put in over the years – I was in a team that was relegated so to see the transformation to now, getting into the Champions League, but they can’t buy any players, it is ridiculous and having to sell academy players as well. It just doesn’t sit right.”