Rogers, 23, has scored 12 goals and provided nine assists across 48 appearances this season as Villa pushed for a top-four finish and reached the Europa League semi-finals. He is contracted until 2031 but Villa are prepared to sell if a fee in the region of £80 million is met — a figure that could rise further if a bidding war develops.
Sources told talkSPORT that Rogers has not ruled out leaving England and is an admirer of PSG head coach Luis Enrique, having faced the French champions in the Champions League quarter-finals last season — scoring in the second leg at the Parc des Princes.
Arsenal are looking to fill the wide left position vacated by a potential Gabriel Martinelli departure.
Manchester United have a dual advantage — sporting director Jason Wilcox worked with Rogers during his time at the Manchester City academy, while interim head coach Michael Carrick signed him at Middlesbrough. Chelsea want a creative midfielder and are accelerating their interest should Enzo Fernández be sold.
Rogers has personal connections that make the Villa move difficult to leave behind. His relationship with manager Unai Emery and the club's hierarchy is strong, and the hierarchy signed him to a one-year extension last summer.
Villa are also on course for Champions League football — making it harder for any suitor to offer a significant upgrade in sporting terms.
Liverpool are monitoring the situation but are not currently as active, prioritising a right-sided attacker to replace Mohamed Salah.