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Adams and former IMG and Chelsea executive Paul Smith have been looking to put together investors to take over a club, having previously held talks with Aston Villa and Sunderland.

Now it looks like they have been successful at the Selhurst Park club, who are managed by Dutchman Frank de Boer.

It is believed Adams has secured the backing of European investors for the proposed takeover.

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

Lizhang bought Spanish club Granada last summer from Italian entrepreneur Gino Pozzo and he is also the part-owner of NBA basketball team Minnesota Timberwolves.

He put Adams in charge of Granada in April, but the La Liga side lost all seven games under him and were relegated.

(Image: GETTY)

In December 2015, American investors Josh Harris and David Blitzer struck a deal to each take an 18 per cent share of Palace, resulting in a £50m cash injection into the club.

The deal also saw Crystal Palace chairman Steve Parish reduce his stake to 18 per cent while co-owners Steve Browett, Martin Long and Jeremy Hosking also decreased their share.