Former Arsenal star Tony Adams is reportedly leading a consortium that hopes to buy Crystal Palace for £200m.

The 50-year-old, who took charge of Spanish club Granada for a brief spell last season, has been looking for investors with former Chelsea executive Paul Smith.

According to the Daily Star, Adams has managed to get European investors on board for the proposed takeover of Premier League club Palace.

The Eagles' hierarchy changed in December 2015 when American businessmen David Blitzer and Josh Harris bought 18% stakes each, which resulted in chairman Steve Parish reducing his share to 18%.

Adams and Smith had previously held talks with Sunderland and Aston Villa regarding potential takeovers.