The Eagles are desperate to add Premier League experience to their squad following promotion to the top flight, and manager Ian Holloway believes that the Swede would bring the required know-how to his attacking ranks.
Elmander currently plays for Turkish giants Galatasaray, but is thought to be keen to leave Istanbul with first-team opportunities limited due to the presence of Didier Drogba.
The 32-year-old would jump at the chance to return to England, but Palace may be unable to match his wage demands.
The experienced striker is thought to be on a lucrative salary at Gala, and the Londoners’ status as a newly promoted side may see them unable to offer him a deal that’s even close to his current earnings.
Elmander spent the best part of three years at the Reebok Stadium, and although he struggled to adapt to Premier League football initially, he blossomed during 2010/11, netting on 11 occasions.
His form alerted Gala, who swooped to steal him away from the Trotters for free.
Palace are keen to add bodies to their squad in the coming months in a bid to avoid an immediate return to the second tier.
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