The 57-year-old has been at Villa since June 2023, where he reunited with Unai Emery after the pair had combined so successfully at Sevilla.
In his two seasons at Villa, they finished fourth and sixth in the Premier League, as well as advancing to the quarterfinals of the Champions League last year. The Birmingham side missed out on back-to-back Champions League qualifications after losing to Manchester United on the final day of last season.
This summer was a difficult transfer window for Villa though, with only Evann Guessand and Marco Bizot signing on permanent deals. Harvey Elliott and Jadon Sancho joined on loan on deadline day and Victor Lindelöf signed on a free transfer.
Unai Emery's side have endured a torrid start to this Premier League campaign, failing to win any of their opening five matches and only scoring one goal, which came last weekend through Matty Cash in the 1-1 draw with 10-man Sunderland.
Information from Moises Llorens and Rodrigo Faez contributed to this report.
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