An acquisition proposal has reportedly been submitted for the Ligue 1 side, with businessman Paulo Tavares behind the prospective takeover.
Should the deal go through, a new project would be put in place at Nantes and one of the proposed changes would involve Marcelo taking on an ambassadorial role.
The former Brazil international would provide a high-profile figure for the club as it enters a new phase.
Marcelo spent the majority of his European career at Real Madrid, where he established himself as one of the club's most recognisable players before later continuing his career in Brazil.
His proposed involvement with Nantes would therefore represent a move into a different role within football, with the former full-back potentially becoming a representative of the French club rather than returning to the pitch.
The takeover plans are still developing, and any changes at Nantes would depend on the proposed acquisition being completed.
For the Canaris, however, Marcelo's potential appointment would give the club an ambassador with considerable experience of the European game and a long association with one of football's biggest clubs.
The proposed new ownership would have the opportunity to shape the club's direction, with Marcelo's potential arrival among the more notable elements of the plans being discussed.