Ex-Sunderland, Newcastle United and Middlesbrough managers lead race to become new Leeds boss
Bookmakers have made Grayson - sacked by the Black Cats in November - second favourite for the vacant position at Elland Road.
However, former Newcastle United and Middlesbrough boss Steve McClaren is the clear early frontrunner for the job, with SkyBet making him 4/6 favourite.
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Hide AdMcClaren was at Saturday's game against Cardiff City, which ended in a 4-1 defeat, and still lives in North Yorkshire.
Grayson, who had a four-year spell as Leeds boss, leading them to promotion and then a seventh placed finish in the Championship, is priced 9/2 followed by ex-Middlesbrough and Scotland boss Gordon Strachan - who won the league title with Leeds in 1992 - at 11/2.
Paul Heckingbottom, who was on Sunderland's wishlist when Grayson was sacked, is 8/1.
Christiansen was dismissed last night after a 4-1 defeat against Cardiff City at the weekend left them seven points off the top six. Leeds were also knocked out of the FA Cup by Newport County and haven't won since Boxing Day.
Christiansen replaced Garry Monk in the summer.