Holland rejects Villa
Holland had been handed the opportunity of a swift return to The Premiership after Ipswich reluctantly accepted an undisclosed offer for their captain.
But after discussing a switch, believed to be in the region of £4.5 million, the Republic of Ireland international has rejected Villa's overtures.
The 28-year-old's agent Jonathan Barnett revealed personal terms were the stumbling block and that Villa would have to significantly increase their offer for the deal to be resurrected.
"We had a very amicable chat. They were very understanding of our position and I was very understanding of theirs," said Barnett.
"For Matt to move to Villa a lot of things need to happen. Matt was very flattered by their interest, as I was.
"I was very impressed with Villa and I conveyed that to Matt.
"But we are miles apart. Perhaps they will now have a chat among themselves and come back with something else."
Unless he can persuade the Villa board to loosen the purse strings, manager Graham Taylor will have to switch his sights elsewhere for the midfield reinforcements he is seeking before the transfer deadline with a bid for Charlton's Mark Kinsella on the table.