Norwich has already rejected Arsenal's first formal bid of £30m with no bonus or incentive, according to The Sun. The Canaries, recently promoted to the Premier League, are demanding at least £40m for the Championship player of the year.
Interest in Buendia heating up
The 24-year-old winger has been a revelation in the Championship. He notched 15 goals and provided 16 assists in 39 league appearances.
His performances earned him his first call-up to the Argentina national team last May.
Both Arsenal and Aston Villa will simply have to offer Norwich more than £30m and other incentives to snag Buendia. According to transfer news gossip, Arsenal can also offer Eddie Nketiah to Norwich on loan.
Meanwhile, Villa will be desperate to replace £100m player Jack Grealish. The extra funds would certainly give Villa a leg-up in outbidding cash-strapped Arsenal.
Buendia's former club Getafe are set to receive 20 per cent of the final fee.