
The 22-year-old midfielder is without a team after leaving boyhood club Schalke. His time at Bundesliga side came to an end after he fell out with the club hierarchy over wage demands in a new contract.
The fall out was so critical that the club dismissed their star player from training in April but since then he has been attracting interest from some of the top sides of Europe.
He was linked with a move to Arsenal, Liverpool and Bayer Leverkusen etc but his high wage had been a barrier for top teams. Various suitors felt he is too expensive after the midfielder's demand of around €100,000 a week plus wage, but, that has allowed Palace to offer him a route into the Premier League.
As per reports, the midfielder has now agreed on a move to Selhurst Park for the coming season and as long as there are no late complications, the midfielder is expected to complete the move this week.
Meyer had mostly been an out and out attacker since his playing days however last season, Schalke boss Domenico Tedesco deployed him in the heart of the midfield with a holding midfield role. The decision raised many eyebrows at first. However, Meyer slowly silenced his critics with his impressive performance and guided his team to a second-place finish being one of the best midfielders in the league last term.
However, should this deal befall, the German is expected to play in a more attacking role under Hodgson rather than a proper midfield role. Palace already have two first-choice midfielders, Milivojevic and Mcarthur in their rank and Meyer might be used ahead of them in a number 10 role or as an attacking midfielder.
He would become Roy Hodgson's second signing of the transfer window should the deal occur after goalkeeper Vicente Guaita move from Getafe.
Hodgson is keen to find a new attacking midfielder after Ruben Loftus-Cheek returned to Chelsea following his loan spell.
Meyer made his debut for Schalke as a 17-year-old in the 2012-13 season and since then has played over 192 matches for them. The German midfielder also has four caps to his name and has made 28 appearances this term, scoring and assisting once each.