Roy Hodgson has stepped down from his role as Crystal Palace boss with the club just five points clear of the Premier League drop zone.

Amid mounting speculation that the Eagles had lined up Oliver Glasner to replace him, the veteran coach, 76, was taken to hospital last week after falling ill during a training session.

In a statement released on Palace's website, he said: "This club is very special and means so much to me and has played a big part in my footballing life. 

"I have fully enjoyed my time here across six seasons as it has given me the chance to work with top-class players and staff doing what I love every day. 

"However, I understand, given recent circumstances, it may be prudent at this time for the club to plan ahead. 

"Therefore, I have taken the decision to step aside so that the club can bring forward their plans for a new manager, as intended for this summer. 

"I would like to thank Steve Parish and his American partners for their support, along with my coaching staff and backroom team who have helped me so much along the way. 

"In particular, a huge thank you to my long-term friend and assistant Ray Lewington, coaches Dean Kiely and Paddy McCarthy, plus the excellent sports science, video analysis and medical departments. 

"My thanks and respect also to the current squad of players who have been a pleasure to work with. They are a credit to the club and themselves. 

"I am certain our fans will continue to give their full support to the team for the remainder of this season and beyond.

"I am confident the season will finish well and I wish the team every success in the weeks, months and seasons to come."

Palace, who have confirmed that Hodgson has been released from hospital and is doing well, sit 16th in the table ahead of tonight's clash at Everton.

McCarthy and Lewington will lead the team at Goodison Park, with Hodgson's permanent replacement expected to be announced shortly.