The January transfer window is almost upon us - and with it brings the prospect of an interesting month ahead for Aston Villa. There is football to come first, of course, in the form of meetings with Manchester City, Newcastle United and Brighton & Hove Albion over the course of the festive period, but behind the scenes Villa are weighing up what they might be able to do in the winter window.

Villa could be active. President of football operations Monchi recently confirmed that the club would be alive to all possibilities, provided they don't put themselves at risk of breaching PSR, yet there are deals potentially to be done - both in and out. Villa have a host of loan players out and about who are currently experiencing different fortunes and some might need their immediate futures resolving.

Here we take a look at the very latest chatter.

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Dialling back in

Samuel Iling-Junior is one of three loan players who could return to Aston Villa as early as next month. Loan club Bologna are reportedly considering whether to conclude the arrangement they have with Villa prematurely, while similar reports have emerged in Spain over the future of Enzo Barrenechea at Valencia and there is a live chance that Lewis Dobbin returns from West Brom, too.

Villa signed Iling-Junior for around £12m as part of a series of summer deals with Serie A side Juventus, who signed Douglas Luiz and allowed young winger Iling-Junior and midfielder Barrenechea to head in the opposite direction. The England under 21 international, who came through the ranks at Chelsea initially, joined Villa in pre-season.

When it became apparent that the pair were going to struggle to make Villa's match-day squad in August, though, and they were omitted for the games against West Ham and Arsenal, loan clubs were sounded out for both - Iling-Junior returned to Italy with Bologna and Barrenechea headed to Spain, and Valencia.

READ MORE: Aston Villa 'concern' over £12m transfer revealed as deal could be ripped up

The Real deal

Aston Villa have been credited with an interest in Real Madrid defender Raul Asencio ahead of the opening of the January transfer window - and he could be available for as little as £8.5m.

Asencio has come through Real's Castilla team - their B side - but has broken into the first-team set-up in recent months as injuries have taken their toll on Carlo Ancelotti's side.

The 21-year-old, who has 18 months left on his current contract at the Bernabeu, has made seven appearances under Ancelotti since the beginning of last month and even played 90 minutes of their 2-0 Champions League defeat at Liverpool three weeks ago.

READ MORE: Aston Villa linked with Real Madrid star who could be available for £8.5m in January

Greek prodigy

Aston Villa have been named as one of the three Premier League clubs who are all keeping an eye on teenager Stefanos Tzimas ahead of the January transfer window. Tzimas is currently playing in German second tier side Nurnberg, on loan from PAOK Salonika in his native Greece.

Sky Sport journalist Florian Plettenberg has reported that Villa, Newcastle United and Chelsea are three top flight sides in England who are looking into the prospect of bringing Tzimas to the Premier League - even though Nurnberg have first dibs on signing him permanently.

The Bundesliga side have benefitted from seven goals and two assists so far this season from forward Tzimas and have the option to sign him for just under £15m - they intend to do so but to then sell him almost straight away for a profit. Nurnberg believe they can ask for a figure closer to £20m.

READ MORE: Aston Villa quoted £19m for striker who Chelsea also want in the transfer window

Just Howe it is

Newcastle United manager Eddie Howe doesn't believe that the loan market is an option for his club in the January transfer window as he pointed to issues for clubs, like Aston Villa, who aren't able to spend freely because of PSR but also aren't going to get help from rivals in the form of borrowed players.

Howe, like Unai Emery has since done with Villa, led Newcastle to the Premier League top-four in 2023 and he has conducted a very impressive job on Tyneside since replacing Steve Bruce in 2021 however, like Villa, Newcastle have been extremely restricted in what they've been able to do on the recruitment front in recent years years despite their on-field performance and achievements.

The Lions and the Magpies are separated currently by five positions through the middle third of the league table but are still only two points apart and play each other at St James's Park on Boxing Day. From there, eyes will begin to focus on the January window and what it might entail, but supporters of both clubs know that neither club are capable of spending millions and millions without any cares.

READ MORE: Eddie Howe outlines the transfer challenge facing Aston Villa which Newcastle already have

Coutinho clarity

Aston Villa playmaker Philippe Coutinho has declared that he is at the club he loves and where he wants to be after ending the season, and his initial loan spell, back in Brazil with Vasco da Gama. Coutinho, 32, scored three goals in 18 appearances for Vasco having joined them in the summer.

The Brazilian, who joined Villa initially on loan from Barcelona before the club made the move a permanent arrangement in the summer of 2022 under the request of his former Liverpool teammate and then boss Steven Gerrard, enjoyed some brief strong form during his loan spell with the Lions but the move has never really represented value for money for Villa.

Coutinho, as a result, hasn't played since the 4-0 home win over Everton in August in 2023 and has been to Qatar and, latterly, back to Brazil on loan spells. At Vasco, he is back in familiar surroundings having come through the ranks there before making for Europe and joining Inter Milan as a teenager.

READ MORE: Philippe Coutinho drops transfer hint about his Aston Villa future as Vasco loan spell ends

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