The 26-year-old has previously denied reports that he would be returning to his homeland at the end of the season, with Montferrand previously having been linked to his services, but with Gloucester facing financial cutbacks, Mercier looks like being one of those set to head out of the Kingsholm exit.
Uncapped by France at Test level, having played for their 'A' team, the former Aurillac man has this season spearheaded Gloucester's charge to the Zurich Premiership regular season crown as well as the Powergen Cup.
Gloucester this week renewed the contract of star wing James Simpson-Daniel, but have had to lay off two of their staff coaches as part of cost-cutting measures.
Mercier's reported new destination is to the Alps, to a Grenoble side who since promotion this season to the top tier of the French game, have taken the season by storm and earned a play-off place.
While a semi-final place may be out of the question, they can count on fierce local support at their Stade Lesdiguieres, which can cram in around 15,000 people.
Another name to be linked with Grenoble is Highlanders and New Zealand Sevens wing Brad Fleming, as they aim to build on a solid comeback season.
By Mark Smith