The Daily Express claims that Roman Abramovich is "furious" about how the Blues imploded against West Ham at the weekend in their 3-1 defeat. With fans angrily voicing their displeasure at Benitez's appointment, the paper claims that Grant "is being considered to take over the reins".
Though the Express claims the story as an exclusive, the Guardian, Daily Mail and Times also report that Grant - a close personal friend of Abramovich, despite his sacking from the Chelsea job a few years back - is up for a return to Stamford Bridge.
Most of the other reports claim that Grant is merely being considered for an advisory or consultancy role, however. The Times adds a note of caution, reporting that Benitez's job is safe and that while contact has been made with Grant he will not be brought in to help out in the next few days.
The Sun has a totally different view of the mess at Chelsea, leading with Benitez's "furious attack" on his players after the West Ham defeat. Benitez has a solution, however: veteran stars Frank Lampard and John Terry will be rushed back from injury to try and get Chelsea's season back on track.
Manchester United boss Alex Ferguson has stepped up his interest in Athletic Bilbao's midfield star Oscar de Marcos, the Daily Mirror reports.
Ferguson apparently sees the 23-year-old as a potential Roy Keane figure for the Red Devils. With Athletic ready to cut their summer asking price of £25 million to a more modest £20m, and with Fergie knowing that Ryan Giggs and Paul Scholes really can't keep on going forever, a deal could be done next month.
The Daily Telegraph runs a lengthy piece discussing Gareth Bale's future abroad, following the Spurs winger's admission that he is "not afraid of moving abroad".
The paper claims that in the whole of Europe only Real Madrid and Barcelona have the money and pulling power to attract the Welshman, who apparently "dreams of winning the Champions League" - so Luka Modric claims, at any rate.
Real Madrid are favourites to secure Bale's signature, the report adds, due to the partnership deal between the Spanish champions and Spurs.
Swansea boss Michael Laudrup will make a £6m move for Bolton's Mark Davies, the Mirror reports, with Laudrup determined to land the midfielder in January after missing out on him in the summer.
And finally, the back page of the Daily Record leads with Lionel Messi pledging to help Celtic into the knockout stages of the Champions League by inspiring his Barca team-mates to victory against Benfica.
"The Celtic fans deserve to be in Europe. They have been amazing," he apparently said. "We have not always been supportive of the way that Celtic try to play football. However, their fans deserve the knockout stages of the Champions League as I think the competition would be a quieter place without them."
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