The Denmark veteran's contract at United is running down this season.
And his former teammate Gravesen told Tipsbladet: "It is one hundred percent finished for Christian Eriksen at Manchester United , and I also fear that his career is over.
"Where is he going? Where is he going to play and earn sixty million kronor (around €8m)? I have my doubts."
According to Gravesen, Eriksen's progress has only gone downhill in recent years.
"Yes, he probably earned more than he should have, but it's tough to see him in this situation. He's had some great moments and was our best player, so it's sad if his career ends like this."
Not only Eriksen's club career is under pressure, according to Gravesen, his place in the Danish national team is also in jeopardy.
"Eriksen has been a fantastic player for Denmark, but I don't think you should be selected based on your past. I would not select Eriksen for the upcoming matches."