Transfer news: Former Crystal Palace veteran Kevin Phillips sets his sights on one last promotion with Leicester City

40-year-old forward could be making a return to football at Championship leaders Leicester City

Kevin Phillips is set to join Championship leaders Leicester City as the 40-year-old eyes one last shot at promotion to the Premier League, according to reports.

The former Crystal Palace forward, who fired them to play-off delirium last May, is a free agent after talks with new Eagles manager Tony Pulis and lives in the Midlands.

Leicester boss Nigel Pearson, whose side were in a similar position last year before a disastrous slump saw them tumble out of the play-offs spots before a final-day victory at Nottingham Forest, is considering a move for the veteran striker as he tries to get his Foxes side over the line this time.

In an intriguing twist, Queens Park Rangers manager Harry Redknapp is quoted as breaking the story last week.

When asked about his own plans for the January transfer window he said: "You need three or four strikers. That is the key. Leicester have got four strikers and someone told me they might be taking Kevin Phillips. That would give them five.”

Pearson, known for keeping his cards close to his chest, replied by refusing to confirm nor deny the rumours to BBC Radio Leicester.

"I don't speculate on other people's players and you could argue he is a free agent, but what I am saying is, there is a way of dealing with adding to your squad. I have worked with him before and I know what he is like, so you can read a bit into that.

"The Midlands is a big place with a lot of clubs. We are in the Midlands so maybe we are in there. Am I am interested? You will have to wait and see."