The 24-year-old, who has risen through the ranks at Villa Park, has become one of the most sought-after players in the Premier League after his recent run of form.
Having led his side to promotion from the Championship last season, the Englishman has stepped up to the top flight impressively with seven goals and five assists in 23 outings.
As such, his value has shot up to the £80million mark, with the playmaker consistently linked with a summer move to Manchester United.
Tottenham were reportedly keen on Grealish last summer but according to The Sun, the North London side could have had their man for a snip one year earlier.
The newspaper claims that at the end of the 2017/18 season – before Villa had been taken over by billionaire owners – Dean Smith’s side were desperate to raise funds and were willing to let Grealish go for £6million.
Spurs chairman Daniel Levy, who was ready to go on his side’s pre-season tour, decided to board the plane instead of submitting a bid as he felt he could haggle for a best-price £4million deal.
However, it is said that when Tottenham landed in Los Angeles, Levy was met with the news that Nassef Sawiris and Wes Edens were ready to pump investment into Villa.
As such, Villa bumped up their asking price for Grealish to £40million before Levy brushed off the idea of making an improved £20million bid.
It is added that Grealish was “gutted” after learning about the possibility of a move to North London.
Spurs look unlikely to follow up their interest in the midfielder after signing the likes of Giovani Lo Celso and Tanguy Ndombele, although Grealish is said to be a top Manchester United target.