The Welshman established Stoke as a Premier League side before his seven-year second spell at the Britannia came to an end in the summer. His brand of football attracts far more criticism than praise, but it is substance rather than style that Palace need at the moment.
The former Scotland boss' last role was a six-week reign at Nottingham Forest. He has Premier League experience with Birmingham and, less successfully, Aston Villa and would bring authority to the hotseat.
Roberto Di Matteo
A Champions League winner in charge of Chelsea in 2012, the Italian is still waiting for his next appointment. He has little experience of relegation battles, though, having been replaced at West Brom by Roy Hodgson in February 2011 in the midst of their battle for survival.
The seasoned campaigner produced impressive results during his previous spell in charge of Palace, during which the club was beset by financial problems. He left after it went into administration in 2010. It remains to be seen whether he has the desire for another relegation dogfight.
The Wales boss played nearly 150 games for Palace as a defender in the early 1990s. He has Premier League experience with Fulham and, with the World Cup qualifying campaign now over, might be tempted by a return to club management.