Despite winning the Europa League on Wednesday night against Freiburg, Villa can only spend 70 per cent of football revenue on players due to squad cost ratio regulations.
A big sale will be required to stay within the parameters, and reports suggest Morgn Rogers could leave, with Aston Villa's hierarchy looking for around £80 million.
According to the Daily Mail, Unai Emery is already looking to address his side's lack of pace by adding Newcastle United's Barnes to his list of targets.
The Magpies would be looking to receive the majority of the £38m they paid Leicester City for the 28-year-old three years ago, and Anthony Gordon's potential switch to Bayern Munich could influence their stance on the winger.
Barnes has scored 16 goals in all competitions, including goals in the Champions League this term, and would add significant speed and finishing ability to Emery's forward line.
That being said, it is unlikely Newcastle would sell Barnes and Gordon in the same window without signing a replacement first.