Newcastle United's summer transfer activity will depend heavily on their ability to stay in the top flight.
The 25-year-old has been on Newcastle's radar before, but his persistent injury problems have scuppered any thoughts of a move. However, the North East club are willing to provide Grenier with a platform to rebuild his career.
Lyon Chairman Jean-Michel Aulus has declared he will be placing Grenier on the transfer list over the summer, as reported by talkSPORT.
"We will place him on the transfer list," Aulus is quoted as saying. "Not to make money, but because it is an opportunity for him to regain momentum. At the moment, he is not in a good place."
It is reported that Newcastle will put the Frenchman on top of their wish-list, on the condition that they avoid relegation to the Championship.
They actually made a bid for him in 2014, when Alan Pardew was in charge, but Lyon were not interested in parting company with Grenier at the time.
The Lyon midfielder's horrendous injury record has seen him make only 20 Ligue 1 appearances over the last two season's for the former French champions. His apparent fragility will surely be a concern for the Newcastle board, should they consider making a formal approach for Grenier.
Rafa Benitez's men will continue their fight against relegation when they head to Anfield to take on Liverpool in the Premier league on Saturday.