Sam Allardyce is preparing a £12m bid for Yann M’Vila.
According to a report in The Telegraph the Palace boss has been alerted to get get out figure in the three year contract that he signed with Rubin Kazan before the turn of the year.
M’Vila spent the second half of last season on loan at Sunderland under Allardyce with the Palace boss hoping for a similar impact at Selhurst Park.
Palace have struggled to bring in new faces during the January transfer window with the protracted negotiations for the transfer of Karl Jenkinson typical of the delays.
Bids for Jenkinson and Patrick van Aanholt from Sunderland have been accepted but agreeing personal terms with agents has turned out to be more difficult.
French internationalist M’Vila is keen to play again in England and would jump at the chance to play again for Allardyce after missing out on a permanent deal to go to Sunderland during the summer.