Meanwhile, United have given up on the chances of signing James Maddison.
The Leicester midfielder looks set to sign a new five-year contract at the King Power stadium, putting an end to any speculation that he could leave.
The 23-year-old will have his wages bumped up to £100,000-per-week as the Foxes look to squash any talk of a summer move away.
Maddison had been a backup target for Grealish ahead of the window, and has been wanted by United since before last summer.