They planned to make a Grease tv show back in like the 80s.

Also joke's on you, I did want a Grease franchise. They could really easily do it as an anthology series - each season is about a different year with a different lead romance, with every romance consisting of people who are too different but learn to make it work. This would also cover changing attitudes towards "gangs" and would address the school becoming less white over time in addition to the goofy musical numbers.