After the 39-year-old striker scored the decisive penalty in the play-off final defeat of Watford, Palace boss Ian Holloway hinted he was prepared to offer Phillips a new deal.
But the former England frontman could now move on ... and it is rumoured he could be set for an emotional return to SUNDERLAND.
Kevin Phillips: "My agent has been speaking to Palace and the chairman (Steve Parish) - there have been a few figures bandied around but we're a bit apart on them.
"I do have offers elsewhere and if I'm being honest, there is one real offer which I'm very, very tempted by.
"There are a couple of other offers that may materialise over the next week or so too.
"But there is certainly an offer there for me that is very tempting. It's at a good level that certainly interests me.
"There are certainly different offers out there on the pitch and even off it for me, and at my age I'm delighted at these people expressing their interest.
"The week after next will be an important week for me."