Palace chairman Steve Parish said contingency plans were needed. Craig Mercer - CameraSport via Getty Images

Crystal Palace chairman Steve Parish has said he he is "planning for the Championship" and challenged the players to make sure that planning is not needed.

Palace are currently 17th in the Premier League, out of the relegation zone only on goal difference.

While former England boss Roy Hodgson has overseen an upturn in fortunes since taking over during September -- when the club were rock bottom following four straight league defeats under Frank de Boer -- there remains work to be done.

Palace, who have lost three of the past five matches, host Manchester United on March 5 and then travel to Chelsea before a key clash against fellow relegation battlers Huddersfield.

Parish maintains that his role as chairman means he must have a contingency in place should the worst happen in May, but hopes it will never need to be implemented.

"We are in a difficult situation, make no mistake. People ask what I'm planning for, I'm planning for the Championship," Parish said at the Sport Industry Breakfast Club in London on Wednesday in quotes reported on the Sport Industry Twitter feed.

"At the moment it's down to the players, but if it does happen I can't start thinking about it then."

"We are in a difficult situation, make no mistake. People ask what I'm planning for, I'm planning for Championship. At the moment it's down to the players, but if it does happen I can't start thinking about it then." #SIBC pic.twitter.com/Fbdz0uBJYZ — Sport Industry Group (@SportIndustry) February 28, 2018

During a question and answer session, Parish also tackled the issue of football's finances, with Premier League broadcasting revenue having hit record levels.

"We waste a lot of money in football," he said. "There are debates about how we keep more money in the game, agent fees ... I don't think a slight tightening of purse strings is a bad thing. We've all got a bit lazy in the Premier League.

"F1 only has two teams competing at the moment, so people are switching off. We can't let that happen in the Premier League."

Palace hope to be able to redevelop their Selhurst Park ground with the building of a new main stand which will help raise capacity from 26,000 to more than 34,000.

As well as new community facilities it is also proposed to make the pitch bigger, which would meet UEFA criteria for hosting tournament matches.

A planning application is set to go before Croydon Council's Planning Committee on April 19.

Parish, who grew up as a Palace fan and said being chairman remains a "privilege," told the London Evening Standard that the club were "looking at a naming-rights opportunity for the stadium."

"The new stand is the biggest project the club have undertaken since 1964. We are very excited about it and it will make a huge difference to the club," he added.

"Relegation and promotion are temporary things. I have got to make sure, whether eventuality, we can fulfil the long-term goals of the club."