Malky Mackay has reportedly beaten off competition from Tim Sherwood to be appointed the new manager of Crystal Palace.

The two men are believed to have held discussions with co-chairman Steve Parish over the weekend following Tony Pulis's decision to vacate the hotseat last week.

Initial speculation had suggested that Sherwood was the favourite to replace Pulis, but Parish and the Palace board have decided that Mackay is the right man to take the club forward, according to numerous reports this afternoon.

Mackay, 42, has been out of work since he was sacked by Cardiff City in December last year.

Should he take charge at Selhurst Park, Mackay will be reunited with Palace's sporting director Iain Moody, who held a similar position at Cardiff under the Scot's management.