Coleman is a former Palace player and well respected amongst the Palace support but the smart money appears to be on Chris Hughton and Steve Coppell taking charge of the club.
Dougie Freeman, who is the current caretaker and expected to be in charge for the FA Cup game at the Ricoh Arena on Saturday is third favourite with bookies Victor Chandler whilst former City and Palace boss Iain Dowie is sixth favourite.
Palace Chairman Steve Parish told the Croydon Advertiser: "I don't know what Steve's situation is, whether he wants to manage or whatever. "I absolutely will be giving him a ring and having a chat with him, Steve would be a great sounding board for us in terms of who we should get, he cares for the club deeply.
"The word legend is used too often but in his case he's a definite legend here. He's been a fantastic manager at almost every club he's been too and he's definitely someone who I would be mad not to have a chat too.
"I don't expect Steve Coppell to apply for the manager's job at Crystal Palace, but I think it would be silly not to at least speak to him, ask him his advice or see where his head is at at the moment."
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