Townsend, 23, has come up through the ranks at Tottenham, but has endured an inconsistent first year under the tutelage of manager Mauricio Pochettino.
With five goals to his name this past season, Townsend blew hot and cold, but continues to impress on the international stage with England.
With Nacer Chadli and Erik Lamela largely being the players to feature out wide under Pochettino, Townsend is a target for Aston Villa, according to The Mirror, with manager Tim Sherwood keen to offer the winger first team football.
Sherwood managed Townsend during their time together at Tottenham, and The Mirror believe that the Villa boss wants a reunion this summer - only that plan may already be falling apart.
The Daily Mail report that Townsend instead wants to fight for his place in the Tottenham side - though if Spurs look to bring in more wingers this summer, he will re-consider his future at Spurs.
£15m - too expensive?
The report adds that Tottenham chairman Daniel Levy is likely to value Townsend at £15m - or possibly even more than that.
Unless Aston Villa sell star striker Christian Benteke, they are unlikely to be able to afford that kind of fee for a winger, especially one that still has plenty to prove in the Premier League.
A permanent deal to take Townsend to Villa Park now looks unlikely, but it would be interesting to see whether Tottenham would be open to a loan move.