According to The Daily Record, Crystal Palace are preparing a bid for Dundee United winger Scott Banks this month, who could be signed by the south Londoners for as little as £200k if they wait until the summer.

What's the word, then?

Well, the Eagles are believed to be keen on a move for Banks, who Palace's Sporting Director Dougie Freedman attempted to sign back in the summer although he could not agree a fee with the Scottish side.

Palace are now in a stronger position to land Banks - who is also being eyed up by Arsenal and Manchester City - as he is heading into the last five months of his contract with Dundee United.

Freedman could sign Banks for as little as £200k on a 'freedom of contract' basis if he waits until the summer, although the Eagles want to sign the 18-year-old sooner.

Suggests Freedman has a close eye on Dundee United

In addition to Palace's interest in Banks, they have also been linked with another Dundee United player in Lawrence Shankland (The Daily Record live blog, January 6th, 10:59).

The Eagles reportedly sent a representative to watch the Scotland international in action against Queen of the South recently, and the fact that Roy Hodgson's side are sniffing around this particular Scottish club suggests Freedman is keeping a close eye on Dundee United.

It is a strange tactic, although the Sporting Director could well be onto something given the successes of Andy Robertson - a former teammate of Shankland's - and John McGinn as we have already detailed here.

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In Shankland's case, his 19 goals and three assists this term make him an understandable target for Palace, although in Banks' case, he has only made four appearances this season with just a single assist to show for his efforts - it remains to be seen what Freedman sees in the teenager, although he must have some talent if Arsenal and Manchester City are also watching on.

Nevertheless, the interest in Shankland and Banks - two players from the same club - suggests Freedman is keeping a watchful eye over the Scottish Championship side.

In other news, evidence suggests Palace have an advantage over Premier League rivals in transfer race...