Nathaniel Clyne is understood to have turned down a move to Premiership side Wolves.
Mick McCarthy originally offered £1.5m for the pacy right-back and Victor Moses last week, but turned his attentions to Clyne after Moses moved to Wigan Athletic earlier today.
Although Wolves agreed a fee with Palace for Clyne, the teenager is believed to have rejected the switch.
With Palace desperate to raise funds before the transfer window closes in five hours, more bids are expected to be made for players like Darren Ambrose and Neil Danns before the end of the day.
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