The 19-goal striker is out of contract in the summer and is believed to have entered into contract talks with The Saddlers over the past few weeks.
Norwich City and Southampton are believed to be amongst a host of Premier League and npower Championship sides keeping track of the Solihull born front-man.
Grigg's agent Dan Wood of The Endgame Group, told Sky Sports "It is understandable that Will has caught the eye with his performances this season, but all he is focusing on is playing well for Walsall, and continuing the club's push for promotion," he continued, "We are having discussions with Walsall, and those talks will continue."
Walsall remain hopeful of completing a deal on a new two-year contract in the near future.