Iain Moody has resigned from his role as sporting director at Crystal Palace following today’s newspaper reports about his conduct at former club Cardiff City.

Moody is alleged to have exchanged several racist, sexist and homophobic text messages with former Bluebirds boss Malkay Mackay during their spell working together in south Wales.

They looked set to be reunited at Selhurst Park earlier this week after Mackay completed a successful interview to replace Tony Pulis as Eagles manager.

But there was a dramatic U-turn late yesterday afternoon when Palace ended their interest in Mackay.

Initially it was felt this was because Cardiff had hit Palace with a legal claim for compensation in the wake of the Eagles being found guilty by the Premier League over the Spy Gate affair.

However, this morning the Daily Mail reported the FA were now investigating both Moody and Mackay after investigators uncovered electronic correspondence between the duo which included offensive comments of a racist, homophobic and sexist nature.

Crystal Palace this lunchtime confirmed Moody’s departure in a brief two-sentence statement on their website.

It read: “In light of the events of yesterday, sporting director Iain Moody has tendered his resignation and it has been accepted with immediate effect. 

“There will be no further comment from the club on this matter.”

Meanwhile, Tim Sherwood is now odds on favourite with several firms to be the new Crystal Palace manager after initially missing out on landing the role to Mackay.

A full list of up to date odds can be read here.

Follow @NewsShopperSprt for live updates from Crystal Palace v West Ham on Saturday