The midfielder is on-loan at Everton from Manchester City this season, though his spell has been curtailed since the New Year due to a stress fracture to his foot.
Grealish has remained on Merseyside for his treatment in a sign that has offered Everton's dealmakers confidence.
The Daily Mail says Everton will explore the prospect of signing the midfielder permanently, though will need Grealish to accept a major cut on his current £300,000-a-week City wages.
With less than 18 months on his City deal, Grealish can be signed outright for £50m courtesy of a permanent opition in his loan arrangement.
However, given his agent and length of his City deal, Everton believe £20m is a more affordable price.
