Veretout only signed for Villa before the start of this season, with the report indicating it was for a fee worth roughly £6.2 million.
The French midfielder agreed a deal until the summer of 2020, but it does not look likely that the 23-year-old midfielder will be at the club come the start of next season.
A host of Villa players are set to leave the Midlands club this summer when they are relegated to the Championship, and Veretout is one of the players expected to leave.
Veretout has played 23 Premier League games this season, registering five assists, but he is a distinctly average player.
He offers little as an attacking or defensive threat, and along with Ashley Westwood, the pair might just be the most ineffective midfielders in the Premier League.
However, his struggles with Villa have not stopped other clubs wanting to sign him, with Milan tracking the midfielder.
The report claims that the Serie A giants have been interested in Veretout for over two-and-a-half years, and they are ready to move for him this summer.
They believe they can capitalise on Villa’s relegation and secure Veretout on a cut-price deal, signing him for far less than the £6.2 million the Premier League side spent last summer.