Despite numerous attempts to renew his deal, Asensio is winding down his contract at Real Madrid.
He does not feel a prominent role under Carlo Ancelotti and has been a secondary figure in the team this season, not even starting half of the league games this term.
If Aston Villa are intent on Asensio, they must compete with European giants PSG and AC Milan, with the duo keen to sign him up.
But Emery is pushing his club to sign the Real Madrid star with 20 goal contributions ahead of their competition.
Bringing such a renowned star for nothing seems like a good deal on the cards for the Midlands club.
However, they must convince him to swap the prospect of Champions League football for the Europa Conference League.
That may seem like a difficult prospect but not impossible.
Much will depend on aston Villa’s offer for the Real Madrid star, who has 20 goal contributions this season, and dealing with agent Jorge Mendes, who has good relations with the other clubs competing for his signature.
The race is now open for Asensio.
But Aston Villa will feel somewhat optimistic about bringing the Spaniard in.