It will cost Crystal Palace up to £40million to prise Conor Gallagher away from Chelsea on a permanent basis, according to journalist Tom Barclay.

What's the latest news involving Gallagher?

Gallagher joined Palace on a season-long loan deal during the summer transfer window and has shone during the early stages of his career at Selhurst Park, scoring two goals and grabbing an assist in his first six Premier League outings for the club.

Palace won the race for the central midfielder's services after the 21-year-old opted to turn down an approach from Leeds United.

His temporary switch came after spending last term with West Bromwich Albion, where he contributed two goals and as many assists in 32 appearances but could not stop the Baggies suffering relegation to the Championship.

Prior to linking up with Albion, Gallagher penned a new five-year deal with Chelsea as the west Londoners looked to protect their asset.

That decision could pay dividends as it has been reported that Gallagher may be among Newcastle United's initial targets following their £305million takeover earlier this month.

Enter Giveaway

Enter Giveaway

What has Tom Barclay said about Gallagher?

Barclay believes Palace would have to shatter their club-record transfer fee if they want to keep Gallagher at Selhurst Park on a permanent basis.

The Eagles' current record arrival is Christian Benteke who, according to Transfermarkt, cost upwards of £28million.

But, with Gallagher's Stamford Bridge contract still being nowhere near its expiry, Barclay feels Patrick Vieira's side would have to spend big.

Newcastle's new owners could spend £200m without breaching FFP! Hear how on The Football Terrace...

The journalist told GIVEMESPORT: "If Chelsea do want to cash in on him and don't think he's quite good enough for them, he'll go for a lot of money, I imagine.

"He signed a five-year deal under Frank Lampard, so he has got another three years or so on that.

"We're probably talking about £30million or £40million, I imagine. You've also got to think how much is it going to cost to replace a player like that?"

How has Gallagher performed this season?

Gallagher has quickly become a fans' favourite in his new surroundings as he claimed Palace's player of the month award for August after garnering a whopping 89 per cent of the vote.

The central midfielder followed that up by also picking up the September accolade, meaning he clinched back-to-back gongs.

But Vieira has urged Gallagher to be more consistent if he wants to secure a call-up to Gareth Southgate's England squad.

Gallagher currently has 12 under-21 caps, with the latest outing coming against Andorra earlier this week.