Tony Pulis has reopened talks with Crystal Palace with a view to becoming their manager and the Premier League's bottom-placed club hope to confirm his appointment before Saturday's game at Hull City.

The former Stoke manager, who departed the Britannia Stadium after seven successful years in the summer, was identified early as a prospective replacement for his close friend Ian Holloway, whose nine-month tenure at Selhurst Park ended almost four weeks ago.

Pulis was interviewed and indicated a desire to take up the reins, only for Palace, aware of the 55-year-old's wage demands, to extend their search elsewhere.

A number of candidates – from Martin O'Neill to Aitor Karanka, Chris Coleman to Iain Dowie – were sounded out in the interim before the Palace hierarchy, led by the co-chairman Steve Parish, settled upon a three-man shortlist last Friday.

Pulis and Dowie, who had been particularly impressive at interview, featured on that list along with Dan Petrescu, the Dynamo Moscow manager whose lucrative contract in Russia, and own wage demands, ultimately took him out of the running.

While Dowie represents the cheaper option, the club – who are six points adrift of safety having only four points from 11 games – recognise Pulis offers them the greatest chance of survival.

The Welshman has never endured relegation over a 21-year coaching career that has taken in six clubs but, even if he broke that duck at Palace, the club would hope he offered them the best chance of returning to the top flight at the first attempt.

Discussions over his contract resumed on Tuesday after Pulis returned from a break in Portugal and, while the basic salary would fall short of the wage he picked up at Stoke, the deal on offer is likely to include a significant bonus should he keep Palace in the Premier League.

His salary for the second year would reflect whether Palace are in the top flight or the Championship. Holloway, who secured the team's promotion via the play-offs in May, had recommended Pulis on leaving Selhurst Park last month following a difficult start to the campaign.

The new man will inherit a side bloated by a flurry of signings who had arrived just before the closure of the summer transfer window, but would want to tweak the squad in January. He will work in conjunction with the sporting director Iain Moody in the winter transfer window.