The former defender is confident the lack of European football on offer at St. James' Park will see the likes of the Lyon midfielder opting against joining Alan Pardew's side
The club had a bid rejected for the Lyon midfielder in January and reports have suggested Alan Pardew has renewed his interest - though Bernard feels a deal is unlikely due to an apparent difference in valuation.
|7/1||Newcastle are 7/1 with bet365 to be relegated next season|
"For the money that's been spoken about [for Grenier], it's never going to happen," Bernard told the Evening Chronicle. "I think if he goes, it'll be for €25 million [£20m]. It could even be a Champions League team.
"For me it will be a surprise if he goes to Newcastle. Sadly it could be a 90 per cent no [chance] for Grenier to [move to] Newcastle."
Newcastle finished 10th in the Premier League last season after a push for the top five unravelled at the turn of the year.
"The problem at Newcastle has been that when the club did well and finished fifth [in 2011-12] they didn't invest. Now it's a whole lot harder for them to attract players," he added.
"We have not done well enough to attract some of the ambitious players. They want to see a club playing in the Champions League or even the Europa League.
"And Newcastle aren't close to that at the moment. I really think the Grenier deal is unlikely."