A source told the local news outlet that the commercial opportunities at the Championship club are under “constant negotiation”, adding that a naming rights deal for the historic stadium would not be ruled out.
Villa have played at Villa Park since 1897 and it has never been the subject of a naming rights deal.
Earlier this year, Villa sold the naming rights for their Bodymoor Heath training facility in a five-year deal with Recon, the conglomerate of ex-majority owner Tony Xia.
Villa’s financial troubles have been well documented of late, with chief executive Keith Wyness suspended in June amid reports that the club was facing a winding-up order over a missed tax payment worth roughly £4 million.
Should Villa reach a deal, they would follow in the footsteps of cross-city rivals Birmingham City, who recently sold the naming rights to St Andrew's, which is now known as St Andrew's Trillion Trophy Stadium, as part of a three-year contract with the investment firm which controls the club.
Villa are currently 11th in the Championship, level on points with Birmingham, ahead of their meeting with their city rivals upon the resumption of the Championship next week.