Barnes, who has been on loan at Fulham from Derby since January, has suffered numerous injuries which have hampered his progress at the West London outfit.
Subsequently, Cottagers boss Roy Hodgson has not seen enough of the starlet in order to open his cheque book and pay the £2m fee initially agreed with the Championship side.
Although Fulham have first option it looks unlikely that they will snap up the former England Under-19 player, leaving the door open for Martin O'Neill - a long term admirer of Barnes - to swoop.
The 20 year old would definitely be seen as one for the future and should Villa complete the deal there will undoubtedly be sections of the media who dub Barnes as a long-term replacement for Gareth Barry.