The 23-year-old wideman has barely featured for the Sky Blues since his £6.2m arrival from Swansea last year, prompting speculation that he could be on the move at the end of the season.
Even though he more than quadrupled his weekly earnings of £10,000 by moving to the Etihad Stadium, the ex-Chelsea youth man is believed to be willing to leave in order to get his career back on track.
Villa are said to be highly interested in Sinclair, and could launch a bid if they manage to avoid relegation to the Championship.
They will face competition from Everton, but with first-team football virtually guaranteed in the Midlands, the Villains may hold the upper hand.
Sinclair enjoyed a fine 2011/12 season, helping Swansea establish themselves as a Premier League force.
Despite his status in the team, he elected to move on in a bid to further his career, but has managed just 12 appearances, nine of which have come from the substitutes bench.
Although he is yet to win an international cap for England, Sinclair was part of the Team GB set-up during the 2012 Olympic Games.
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