Crystal Palace are in dialogue with Paris Saint-Germain over the potential purchase of Yohan Cabaye in what would amount to a club record deal having been offered encouragement that the France international is tempted by a move to Selhurst Park.

Cabaye, a £19m signing from Newcastle in January 2014, started only 13 Ligue 1 games last season and has grown concerned that a lack of regular first-team football may affect his chances of making Didier Deschamps’ national squad for next summer’s European Championships in his homeland. The 29-year-old is attracted to the idea of returning to the Premier League, where he had flourished after a move from Lille in 2011, and with working with his former manager on Tyneside, Alan Pardew.

PSG are willing to allow the player to leave after he made his frustrations clear at Parc des Princes, with Palace the most persuasive of his suitors to date. The south London club, whose squad return to pre-season training on Monday, finished 10th last season courtesy of an eye-catching revival instigated by Pardew after his appointment at the turn of the year, and are seeking to add three or four senior players to their ranks this summer. The owners are ambitious and are seeking to maintain the club’s progress after five years of constant growth under their stewardship.

The France midfielder would still cost around £10m and, though his wages would top anything currently being paid by Palace, there is a willingness to do a deal. The board recognise that other clubs may rival their bid. While Tottenham Hotspur are understood not to have an interest in Cabaye at present, Southampton – another club who can offer European football next season – may be attracted to a deal if Morgan Schneiderlin, as expected, moves to Manchester United. West Ham, who begin their own Europa League campaign on Thursday, may also consider entering the running.

Palace’s business in the current window to date has been limited to re-signing Brede Hangeland on a new one-year contract, though they are close to agreeing a new four-year deal with the Scotland midfielder, James McArthur, who joined last year from Wigan Athletic. There is interest in Chelsea’s Loïc Rémy, another France international who played under Pardew at Newcastle, and the Queens Park Rangers forwards Charlie Austin and Matt Phillips. That pair are being heavily courted by West Bromwich Albion and could cost around £20m to prise from Loftus Road.