Preston North End are riding high in League One, sitting in second and occupying an automatic promotion spot.
It could provide Grayson with another chance to go up against former club Leeds, having taken them on previously during his spell as Huddersfield boss.
Former Bradford City attacker Peter Beagrie has been reflecting on Grayson's spell at Elland Road, which saw him get them promoted out of League One, and believes he was treated harshly by the club.
He told SkySports: "Another manager who was harshly sacked was Simon Grayson.
"With 18 games to go in the 2011/12 season, Leeds were handily placed just outside the play-off places, but without a couple of additions, particularly at the back, the Elland Road club would have failed to make the top six whoever was in charge.
"Simon asked for funds from a board coming under increasing criticism and everyone in football knows that when the board comes under pressure the manager’s days are numbered, especially when another manager with Championship promotions on his CV like Neil Warnock becomes available."
14 months later, Warnock was fired with Leeds only five points off the relegation zone, and the club have not put together a sustained promotion push since.