Roy Hodgson will be handed a huge £1m bonus if he can keep Crystal Palace in the Premier League

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Roy Hodgson will be handed a mega-money bonus if he can keep Crystal Palace in the Premier League as he prepares to make a sensational return to football management.

The former England boss was last night ironing out the finer details of a two-year contract worth £2.5million a season after Palace sacked Frank de Boer, who was in charge for just four games.

And 70-year-old Hodgson, who grew up near Selhurst Park, will net a minimum £1million bonus if he guides his local club to safety.

Frank de Boer was sacked as Crystal Palace boss after just four league games in charge

Roy Hodgson is set to replace him, signing a two-year contract to take over at Selhurst Park

Sportsmail revealed on August 29 that De Boer was on the verge of losing his job and reported yesterday that Hodgson was the leading contender to replace the Dutchman.

De Boer, whose team failed to score a Premier League goal, was dismissed in a meeting with chairman Steve Parish.

The former Holland defender signed a three-year deal worth £2m in the summer and he will leave with a sizeable compensation package. 

De Boer has paid the price for his side losing all four Premier League games without scoring

The Dutchman quickly lost his job as Inter Milan manager last season, lasting just 85 days

Hodgson will return to football after leaving his position as England manager after Euro 2016

The decision to fire De Boer was made after Palace’s 1-0 defeat by Burnley on Sunday. Majority shareholders David Blitzer and Josh Harris were at the match and sanctioned De Boer’s dismissal after consulting Parish and sporting director Dougie Freedman. 

De Boer was in charge for just 77 days and his four-game reign makes him the shortest-lived manager in Premier League history.

Palace have been sizing up replacements for De Boer over the past fortnight. They tried to lure back Sam Allardyce, who left Selhurst Park after leading Palace to Premier League survival last season, but the 62-year-old rejected them. 

Hodgson will be back in the Premier League for the first time since leaving West Brom in 2012

Mamadou Sakho (left) and Ruben Loftus-Cheek watch from the stands during the Burnley loss

Now, barring an 11th-hour hitch, Hodgson will be given the task of keeping Palace in the top flight.

Hodgson, who has Premier League experience with Fulham and West Bromwich, will bring in Ray Lewington as his assistant.

The much-travelled boss started out as a player at Palace. He has been out of work since losing the England job following a disastrous Euro 2016, when the national side lost to Iceland in the last 16.

Crystal Palace chairman Steve Parish has responded to fans after criticism on social media