Christian Benteke is reportedly a target for Manchester City, Arsenal and Tottenham Hotspur following an impressive debut season in the Premier League, while fellow striker Andreas Weimann has 18 months remaining on his current deal.
He told the Birmingham Mail: "Villa have lost so many good players in recent years. I hope that is not the case again this summer.
"I would say tie them up quickly for the long term and get enough points to stay up. Bill Shankly told me you should never let players get into the last two years of their contract if you want them at the club a long time."
Villa are currently 18th in the Premier League.