TONY ADAMS has struck a £200million agreement to buy Crystal Palace, according to reports.

The Daily Star claim the Arsenal and England legend along with ex-IMG and Chelsea Paul Smith have secured the backing of European investors for the proposed takeover.

4 Tony Adams has reportedly struck a deal to buy Crystal Palace Credit: AFP

4 Reports claim Tony Adams has received the backing to buy Crystal Palace Credit: Getty Images

Adams, who endured a nightmare time as Granada boss in La Liga last season, previously held talks with Aston Villa and Sunderland.

And now it looks like the pair have been successful at the Selhurst Park club, where Frank de Boer is manager.

Adams had previously been linked with Chinese businessman Jiang Lizhang, the owner of Link International Sports, report the Star.

Lizhang bought Granada last summer and installed Adams as boss in April for his ill-fated spell, in which he lost all seven games.

American investors Josh Harris and David Blitzer struck a deal to each take an 18 per cent share of the Eagles in December 2015.

That resulted in a £50m cash injection, report the Star.

4 Tony Adams is looking to bounce back after his horror spell in charge of Granada Credit: Reuters

4 Frank de Boer is Crystal Palace's manager for the new Premier League season Credit: Rex Features

And they go onto say that that deal also saw chairman Steve Parish reduce his stake to 18 per cent.

Moreover, co-owners Steve Browett, Martin Long and Jeremy Hosking limited their shares too.

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