Crystal Palace believe they have convinced Roy Hodgson to agree a one-year contract extension.

The manager’s deal expires at the end of this season and he has been seeking assurances over the club’s transfer plans.

The 72-year-old was unhappy with the lack of signings last month after Palace only brought in Cenk Tosun on loan despite his pleas for four arrivals.

Hodgson has been frustrated by two disappointing transfer windows, but chairman Steve Parish has told him the club are committed to investing in the squad this summer.

Talks between Parish and Hodgson over a contract extension started in September and Palace are confident he is close to agreeing a new deal. Hodgson is on course to guide Palace to safety for a third season in a row, which would be a remarkable achievement given the injuries and setbacks the squad have suffered this term.

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Palace know they must look to overhaul much of the squa​d this summer, with the majority of the players predating Hodgson’s tenure. They also have one of the oldest squads in the Premier League, something they are desperate to address.

A deal for West Brom full-back Nathan Ferguson, 19, collapsed on deadline day following a knee injury which was flagged in his medical. Palace will monitor the severity of the problem before making a final call, but intend to return for Ferguson in the summer, when he is out of contract at The Hawthorns.

Hodgson will also demand Palace find a long-term solution to their striker problems which the club have not fully addressed since selling Glenn Murray in 2015.