Sky Sports reported the bid, which follows a loan season at Leicester City that ended in relegation to League One but established James as one of the standout individual performers in the Championship. He scored 11 goals and contributed four assists across 34 appearances — a return that prompted Everton, Crystal Palace and Wolves to all register interest before Villarreal moved.
James joined Rennes from Birmingham City in the summer of 2024 for €5 million but struggled to make an impact in Ligue 1 and was shipped out to the King Power Stadium. Rennes are now prepared to sell, with French outlet Ouest-France reporting the club is actively preparing his departure and seeking a fee in the £20–25 million range.
Villarreal's advantage is straightforward — they can offer European football at the highest level. Everton missed Europe entirely and Crystal Palace will play in the Europa League, while Villarreal's third-place La Liga finish confirmed Champions League qualification. Wolves are also monitoring James but are aware of the competition.
James's contract with Rennes runs until 2028, giving the French club leverage in any negotiation. Leicester's purchase option — reportedly set at around €5 million — has effectively lapsed given the club's relegation, leaving Rennes free to control the sale process entirely.
Born in Hereford to a Welsh father, James made his senior Wales debut in March 2023 and has built his international career alongside his club development. He made over 100 appearances for Birmingham before his move to France and has shown his best football under pressure — the Leicester loan suggested a player with the character to thrive in a higher-profile environment than that struggling Championship side.
Whether Premier League clubs accelerate to match or exceed Villarreal's opening offer will determine whether James remains in Spain or returns to England.