The 24-year-old scored 10 goals and provided six assists in 44 games on loan at Barcelona last season, but the forward has since departed the cash-strapped Catalan giants and returned to parent club Atletico.
According to BirminghamLive, Barca are not too eager to pursue a permanent deal for Felix this summer, opening the door for long-term admirers Aston Villa to make their move.
The report adds that Felix is keen to leave Atletico, five years on from his £113m transfer from Benfica, and wants to know where he will be playing his football before the end of this month.
Felix's valuation is currently unknown, but Aston Villa could look to use the funds generated from the potential sale of Moussa Diaby to Al Ittihad to lure the Portugal international to the Premier League.
Galvez 'agrees' to join LASK Linz from Man City
Staying in the Premier League and Manchester City are reportedly set to part ways with another youngster this summer.
The Citizens have already seen Taylor Harwood-Bellis, Tommy Doyle, Liam Delap and Lewis Fiorini leave the club on permanent deals, with around £40m having been generated from their sales.
Now, Football Insider reports that 19-year-old Tomas Galvez has agreed a deal to join Austrian champions LASK Linz on loan.
The report adds that the left-back is set to depart Man City once he returns from the club's pre-season tour of the United States at the end of this month.
Galvez is said to have made big impression on first-team manager Pep Guardiola and his coaching staff since joining the club from Watford in 2021.
The teenager was born in London, but has been capped three times by Finland, while he played 18 times for Man City's Under-21s squad in the Premier League 2 last season.
Balotelli heading to Brazil?
Elsewhere, former Man City striker Mario Balotelli has been linked with a summer move to Brazilian club Corinthians.
The 33-year-old is currently a free agent after leaving Turkish outfit Adana Demirspor upon the expiration of his contract at the beginning of July.
Demirspor is one of 12 clubs Balotelli has represented across his 18-year club career and the 2010 Golden Boy winner could soon be signing for his 13th team.
Corinthians' academy director Claudinei Alves has commented on a potential move for Balotelli to the Brazilian giants, telling reporters as quoted by The Mirror: "Corinthians are prepared to offer him a two-year contract.
"The [Corinthians] president is the one who is leading talks. He wants €3m per year and a two-year contract. Balotelli's intention is to return to play for the Italian national team."
Balotelli has played in his native Italy, England, France, Turkey and Switzerland during his career and a potential move to Brazil would represent his first time moving out of Europe.