The Guardian reports that Crystal Palace are interested in signing Stewart Downing on loan from Middlesbrough, with Andros Townsend possibly returning to Newcastle.
Townsend, who left the Magpies for Palace in the summer, has been linked with a move back to St James’ Park.
The Guardian say Eagles boss Sam Allardyce is willing to let Townsend go but a possible stumbling block is that Palace are understood to be due to pay Newcastle £3m this month as part of the deal to sign him last year.
The Guardian suggest that could become a loan fee, paving the way for former Tottenham winger Townsend to join Newcastle on loan for the rest of the season with a view to then completing a permanent move.
It is suggested that Townsend regrets leaving Tyneside to join Palace, where he has failed to impress, and that he would welcome the chance to go back to the north-east.
Allardyce is reportedly keen to raise funds in order to add to his squad during this month’s transfer window.
Palace are reported to be chasing a deal to sign Robert Snodgrass from Hull City, while Allardyce is also said to be interested in signing former West Ham man Downing.