The Argentina attacker spent last season with Bayer Leverkusen, though the Bundesliga passed on signing him permanently.
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Buendia is returning to Villa and The Sun says he would welcome a move back to former club Leeds United.
Villa are open to negotiating a new loan arrangement, though Leeds are yet to bite.
For his part, Buendia hopes to play in the Premier League next season, whether at Villa Park or elsewhere.