Los Che have won just five of their last 19 matches in La Liga although they have won each of their last four home games to help move them clear of the relegation dogfight.
They currently languish in 12th place with 33 points from 28 matches – 10 points clear of the relegation zone.
However, the report adds that Gracia will exit the club this summer with no decision taken yet to ensure there is continuity until the end of the campaign.
Granada boss Martinez is out of contract this summer while Bordalas is also expected to leave Los Azulones in summer.
The vastly experienced coach Michel González is another candidate after leaving Mexican club Pumas for personal reasons.