The club had appointed bankers at Raine Group to handle the process and was open to a variety of options, including a full sale, the report added.
Crystal Palace did not immediately respond to a request for comment.
Palace are led by four 'significant shareholders' - American investors Josh Harris, David Blitzer and Woody Johnson, alongside lifelong fan Steve Parish, who has served as the club's executive chairman since 2010.
Johnson, a former US ambassador to the UK and co-owner of the New York Jets, completed his purchase of Eagle Football Holdings' stake in Crystal Palace in July 2025, with British media reporting that the deal was worth close to 190 million pounds ($120.70 million), with Johnson purchasing a 43% stake.
The report came on the day that Palace appointed Frenchman Pierre Sage as manager to succeed Oliver Glasner after a historic, trophy-laden period for the South London club.
Glasner, who departed last month at the end of his contract, guided Palace to the first major silverware in their history by defeating Manchester City to lift the 2025 FA Cup, before doubling the club's trophy tally in May with a victory over Spain's Rayo Vallecano to capture the Conference League.
The FT report has not been verified.