Jon Macken is on the verge of signing for Palace after a fee of £750,000 was agreed with Manchester City.
According to The Mirror, the two clubs shook hands on a deal yesterday and the transfer will now go through once Macken agrees personal terms.
The 27-year-old former Preston striker signed for City in 2002, costing the club £5 million. But he has failed to settle at Eastlands, and his club are now ready to cut their losses.
His Premiership record has been somewhat uninspiring – just 12 goals from 59 appearances for City. But Macken is well-proven at Championship level and could form a formidable partnership with Andrew Johnson.