Ian Holloway leaves Crystal Palace by mutual consent

Ian Holloway has left Crystal Palace by mutual consent and admitted the side didn't maintain the spirit which led them to promotion last year.

The former Eagles boss leaves the club second bottom of the Premier League table, four points adrift of Norwich, who sit in 18th place.

The ex-Blackpool manager attended a press conference with Palace chairman Steve Parish and said: "I have pride in the job we've both done. It wasn't easy. If Steve's last manager (Dougie Freedman) wasn't headhunted I wouldn't have been here.

"Part of my talking with Steve was about am I the one with the energy left? I have to hold my hand up and say we didn't keep the spirit that got us up. We changed too much too quickly.

"We need to shut up shop in this division. At the minute we've got a whole new group there. Someone new coming in now with a tad more experience at this level will have 30 games left."

The Eagles made 14 new signings in the summer and talkSPORT understands Holloway offered his resignation after the 4-1 defeat to Fulham on Monday night and said goodbye to the playing squad.

Parish had offered Holloway his backing prior to the Fulham defeat and indicated he did want the boss to continue his work at Selhurst Park.

"I was more than happy to get relegated and come back up with Ian. The word 'sacked' has never been mentioned among the directors," he said.

"Ian's been very noble and he's come forward and said 'I can't do it'. I've spent three days trying to get Ian in the frame of mind that he can do it against Arsenal.

"Ian feels very strongly that we need to stay in this division. It's so difficult to get out of the Championship now."

The early favourite for the role with the bookies is Neil Warnock, although talkSPORT understands Tony Pulis is also in the running.

Assistant manager Keith Millen will lead the club in Saturday's match against Arsenal.