A Chinese takeover of Crystal Palace has fallen through.

The Times says Palace have rejected a takeover bid from the Shanghai Naisi Investment Management Centre, with the Chinese investment fund reportedly unwilling to match the Eagles' £220m asking price.

It was reported by the Times in April that Chinese marketing company Double Edged Sports, which owns Spanish side Granada, were considering a bid to takeover Palace, but now, the Times is reporting that any proposed deal has now collapsed after months of negotiations.

The report suggests that Chinese businessman Jiang Lizhang has met with lawyers representing Palace, but has been unable to reach an agreement, with the Chinese investment fund said to not be willing to meet the asking price.