The League One star is the subject of three Premier League bids, Lee Power has confirmed.
The Australian midfielder has since grown into one of the Football League’s most exciting talents, recording six goals and nine assists in 39 appearances this season, while also breaking into the national team setup.
After being an unused member of the side’s 2014 World Cup squad, the 12-times capped Socceroo would go on to help guide Ange Postecoglou’s men to the 2015 Asian Cup title this winter, scoring in the final and even earning the tournament’s MVP award.
His recent performances have not gone unnoticed higher up the ladder and now Villa, Palace, West Ham United and relegated Queens Park Rangers are all reported to be after the Robins ace [h/t The World Game].
Villa are even said to have tabled a £3.5 million joint-bid for Luongo and midfield teammate Ben Gladwin, who Sherwood is claimed to have watched on several occasions in recent months ahead of his first summer transfer window in charge of the club [h/t Telegraph].
Speaking over the weekend, Swindon chief Power - Sherwood's former Norwich teammate - confirmed that the League One club had received three “substantial” offers from Premier League clubs and that a deal could be imminent.
“There are a number of offers for Massimo,” said Power. “That's not surprising because he’s been a star for us this year.
“Something could happen this week … we have three substantial offers in from Premier League clubs and we need to sit down with Massimo and his advisors and decide what to do."
Asked if Villa and Palace, who Luongo's Australia teammate Mile Jedinak captains, were among the clubs in question, Power replied: "You wouldn't be far wrong.
“The numbers being mentioned are around £3 million, which is good money for us and we’ll be pleased with that,” he continued.
“Mass has come from nowhere to become one of the key men in the Australian team and he will be a fantastic asset for someone.
“One day he will play in the Premier League – and it might be as early as next week. We are not going to stand in the boy’s way.
"When I signed him from Tottenham, I promised him he would stay here a year or two and we’d help develop him and help move him back up the ladder.
“He’s kept his part of the bargain and we will keep ours. He’s a lovely kid and he deserves his move, if it comes.”
Luongo himself was tight-lipped when pressed on his future following Swindon’s disappointing 4-0 play-off final defeat to Preston North End on Saturday but did admit that he feels now is the time to make the next step in his career.
“I think I am ... I back myself, though right now it doesn’t feel like that because we lost,” he told the Australian news outlet. “I just need a rest and to get myself ready mentally and physically for the new season, wherever I am.
“The last two years have been brilliant at Swindon – I am no bad words to say about anybody at the cub.”