Dan Petrescu: Former Romania international in advance talks with Crystal Palace

Eagles chairman Steve Parish held negotiations with Petrescu, who is currently in charge of Dinamo Moscow, on Thursday evening after receiving a glowing report from the club's new sporting director Iain Moody and chief executive Phil Alexander, who met Petrescu in Moscow on Tuesday.

Palace focused on the 45-year-old former Romania international after Cardiff manager Malky Mackay turned down the job when he was offered it a fortnight ago.

Petrescu made 95 appearances for Romania and his lengthy playing career in England included spells with Sheffield Wednesday, Chelsea, Bradford City and Southampton.

He managed Rapid Bucharest, Wisla Krakow, Unirea Urziceni, who he led into the Champions League with their first Romanian league title, and Kuban Krasnodar, with whom he enjoyed promotion to the Russian top flight, before taking charge at Dinamo Moscow in August 2012 on a three-year contract.

Palace, who are bottom of the Premier League with only four points from 11 matches, have been without a boss since Ian Holloway's departure on October 23.

Aitor Karanka had been heavily linked with the post before joining Middlesbrough on Wednesday, while Rene Meulensteen was also prominent in the betting until he was appointed Fulham head coach this week.

Parish had stated on Thursday that he hoped to have a new man installed by the weekend.

"We're getting closer," he told Sky Sports News. "It's quite fluid at the moment. It's gone on a lot longer than we thought.

"We're talking to lots of people, getting lots of references. We are quite close.

"It's a difficult decision, and it is important we get it right," he added.

"We thought we would have somebody by Tuesday or Wednesday. That hasn't transpired, but hopefully by the weekend, so they have a good week to work with the players before the (Hull City) game.

"Once we get to the point of making an offer, a decision is made. We are not talking to anyone where finances are a problem.

"It would be nice to do it on Saturday. It depends on complications - where they are physically, location. We've made no no secret... one or two people abroad. All will be revealed soon."