Sources: Lampard sensationally pulls out of race to be Crystal Palace manager

Frank Lampard has sensationally pulled out of the race to be the new Crystal Palace manager, Football Insider understands.

The former Chelsea manager has emerged as the strong favourite to replace Roy Hodgson after holding extensive talks with Palace chiefs.

But a Palace source told Football Insider that Lampard has informed the Premier League club that he no longer wants to be considered for the vacant post.

It is said that the 42-year-old regards it is a huge rebuilding job and fears they will get sucked into a relegation battle next season.

Half the Palace team are out of contract next month and most are expected to be let go.

Lampard’s decision will be viewed as a major surprise given that Palace were seen as a route back into Premier League football following his Chelsea sacking in January.

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Indeed, Sky Sports reported on Thursday morning that Lampard is wanted by West Brom but seen as an outsider as he was the top contender for the Palace job.

Palace chairman Steve Parish wants a new manager to tweak the system and implement a more attractive playing style.

He had thrown his weight behind Lampard as he felt he could be the man to do both those things.

However, Football Insider revealed on Wednesday that Palace director of football Dougie Freedman is strongly pressing the claims of Barnsley boss Valerian Ismael.

It was confirmed on Tuesday that Hodgson would step down after four years as manager at Selhurst Park.

His side looks set to finish in mid-table this season as they have done in each of Hodgson’s campaigns at the helm.

In other news, Crystal Palace are hot on the heels of signing Leeds United academy product who’s had a brilliant season.