Manchester City met with Valencia officials prior to the opening of the January transfer window with the Eastlands outfit considering a bid for the Spain international striker.
City boss Mark Hughes claims his side were immediately put off by Los Che's asking price for Villa's services and have not been in contact with the La Liga outfit since.
Valencia are in the grip of a serious financial crisis and have admitted that star men Villa and David Silva could well be sold this summer in a bid to raise much-needed funds to keep the club afloat.
Barcelona and Real Madrid are both reported to be monitoring the situation and Villa's agent Jose Luis Tamargo is adamant that his client will not move away from his homeland.
FocusedCity offered a staggering £100million in a bid to lure AC Milan ace Kaka to Eastlands in January, alongside mind-boggling personal terms, but the Brazilian opted to turn down the riches on offer, with Villa tipped to do the same should City rekindle their interest.
Tamargo told El Mundo: "For sure he won't move on from Spain.
"I don't know what kind of contact there has been (between Man City and Valencia) or if they have reached an agreement, but he won't be playing away from this country.
"It's not a question of money.
"At the moment Villa is only focused on the team."