There is the notion that Aston Villa is never going to be able to attract players again due to the lack of being in Champions League this upcoming season. Of course, it is the goal of all top players to play in Europe's best competition. It is not the end-all-be-all.
In the Premier League, even with an added qualification slot for England, making it into Champions League is far from a guarantee. Year in and year out, teams will narrowly miss or be forced to win a separate competition, as was the case with Manchester United and Tottenham Hotspur this past season.
Any year, in a crowded, competitive Premier League, making an assurance of being in the top European tournament is a lie. The EPL is built on things being far from guaranteed for anyone. Players may and likely do prefer playing on a side that is currently in that competition. They will also know that the same team could very well be out of Europe altogether by the time the next year rolls around.
To act like Villa missing out on Champions League, after being in the running until the last Matchday, is completely disingenuous. Not to be too overly complimentary, but it is known, for example, how Man Utd is faring in the transfer window this summer.
That is not to compare the situation between Villa and United as the same. It simply shows how being in Champions League is not the only consideration among the top available players at any given time period.
For Villa, the draw for players is to play in a system and in a club that cares about development and that will be willing to work through the more difficult patches of the season when they come. Throughout the rest of the Premier League and in Europe, players are just another squad member until they have fulfilled their purpose, and the club then shows just how eager they are to move on.
Lack of revenue for Aston Villa does not play into this either
An aspect that is a real part that Villa has to deal with is the lack of revenue from not being in the top competition. That is something, however, that is not fully realized in terms of effect until next year. Granted, the club could be operating more conservatively now in order to spread the financial burden of not being in the tournament.
In any event, that too is not a reason now as to why players are not coming to B6 to play under Emery.