Agents for the former Chelsea midfielder has been offered him across the Premier League this month.
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Villa are keen and talks are now at an advanced stage with Milan over a deal for Loftus-Cheek.
The Daily Mail says Villa representatives were in Milan last week for talks over the England international.
Villa have made a loan-to-buy offer, while the Rossonero favour an outright sale.
Talks are continuing today as Villa push to close an agreement.