Grealish, 24, scored Villa's first as they held Manchester United to a 2-2 draw at Old Trafford on Sunday.
Anwar El Ghazi picked up an injury in the move which saw Jack Grealish give the Villans the lead against United, and according to boss Dean Smith he has not recovered sufficiently to be involved at the Bridge, meaning Trezeguet is likely to deputise for him.
'What they don't realise, I've worked with this kid for 14 months, he tells the story himself of jumping into a bush in the garden at six years old pretending it was the Holte End.
Despite Leicester's current position in the top four of the Premier League, the club have shown previously with the likes of Riyad Mahrez, N'Golo Kante and Harry Maguire that they are prepared to sell their best talent should they receive an offer that is too good to refuse.
A judgement published by Federation Internationale de Football Association showed 150 rule breaches had been committed by the club involving 69 academy players over several seasons.
'He signed a new deal at the start of last season, we've got two very wealthy owners who want to build the team around Jack.
Whether the club would sanction Chilwell's sale mid-season remains to be seen, Rodgers having expressed an intent to keep his side together as they continue their push for a shock title challenge and Champions League qualification.
Tammy Abraham claimed a goal and an assist against former club Aston Villa, while Willian excelled, as Chelsea responded to back-to-back Premier League defeats by deservedly beating Aston Villa 2-1 on John Terry's return to Stamford Bridge.