Starsport revealed yesterday the Arsenal legend was set to replace Steve Bruce at Villa Park.
But former Villa star Lee Hendrie believes the club should stick with their current boss and avoid taking an unnecessary gamble.
Bruce almost secured promotion back to the Premier League last season, losing the play-off final to Fulham.
But new owners Wes Edens and Nassef Sawiris are planning crunch talks with the Villa manager today.
Hendrie told talkSPORT: â€śMy only worry there is that he hasnâ€™t managed anywhere.
â€śIâ€™d love to see Steve continue at the club because I think he deserves that shotâ€ť
â€śHe has played under some unbelievable managers where he wouldâ€™ve gained a hell of a lot of experience.
â€śBut to actually take hold of a team with the stature of Aston Villa, itâ€™s certainly a big step to do that.
â€śTheyâ€™ve got Steve [Bruce] in there, whoâ€™s obviously got bags of experience, promotion experience.
â€śIâ€™d love to see Steve continue at the club because I think he deserves that shot. Heâ€™s only just missed out in the play-off final.
â€śHeâ€™s come and steadied the ship. The club was in a mess. It would be a crying shame if Steve leaves.
â€śIt would be great to see Thierry come in and do a fantastic job, we all know what a fantastic world-class player he was. But is it a gamble? Thatâ€™s my big question mark over Henry coming in.â€ť
Villa start their Championship campaign against Hull on Monday, August 6.
But will Bruce or Henry be in the dugout?