Villa are struggling badly against Financial Fair Play, and it appeared almost certain that Grealish would be sold to raise money this summer.
Tottenham Hotspur and Chelsea have both been linked with the attacking midfielder in recent times (TeamTalk), but Villa are now seemingly not prepared to give him up without a fight.
Bruce has also reportedly been given assurances that he will have money to spend in the coming months, which has convinced him to stay.
The report provides some much needed good news at Villa, after what has been a worrying time.
There were fears that the claret and blues would have to completely cull their squad just to ensure that they stayed afloat.
But the future at Villa is now seemingly not as bleak as once feared, with Bruce apparently prepared to stay on, and oversee whatever changes are made at Villa Park this summer.