Report: Crystal Palace nearing Alan Pardew appointment

Crystal Palace are reportedly on the verge of appointing Newcastle United boss Alan Pardew as their new manager.

The London outfit are currently on the lookout for a new head coach after relieving Neil Warnock of his duties at the weekend.

Despite competition, Pardew emerged as the favourite on Sunday and according to the Daily Mail, a compensation package of £2m has been agreed by the chairmen of both clubs.

Pardew, who represented Palace as a player between 1987 and 1991, refused to speak to the media following Newcastle's 3-2 win over Everton on Sunday, which further increased the speculation.

An announcement is expected on Tuesday.