Sunderland remain in talks with Aston Villa over a potential loan deal for Ross McCormack.
The Black Cats are interested in ending the 30-year-old's troubled spell at Villa Park, but a permanent deal is a non-starter.
McCormack signed for Aston Villa last summer in a bumper £12 million plus deal and commands a significant wage. Steve Bruce is open to offloading the striker after an acrimonious falling out last season.
Wages continue to be the major stumbling block to any deal, as it is with a number of interested Championship clubs. The seemingly imminent sale of Jeremain Lens could free up room on the wage bill to allow Grayson to pursue a player he managed to great success at Leeds United.
The player would be keen on a reunion with his former boss.
Grayson himself has not commented publicly on the link and said on Wednesday afternoon that Robbin Ruiter aside, he does not expect any signings to be completed before the clash with Derby County on Friday night.
He said: "It just shows you what the size of the football club is that we continue to be linked with these good players, that will continue to be the case because of who we are.
"Will any deals be done for Friday? Probably not, but it doesn't mean to say we're not working hard."