Maybe that was to their detriment when Owen Coyle was given his marching orders by Bolton.
Freedman chose to take up the managerial vacancy at the Reebok Stadium and now the south London club begin the search for his successor.
Steve Coppell had had several spells of Palace, leads the market at 2/1 with Paddy Power, this despite his retirement in August 2010 while in charge of Bristol City.
The 57-year-old who first took charge of the Eagles in 1984 and most recently in 2000 and has had four spells in charge of the club, but cited a lack of passion for football for his reasoning behind giving up management.
A return to Crystal Palace for the fifth time may be the job most likely to tempt him out of retirement but punters may not be rushing to back him at such a short price.
Lennie Lawrence, Freedman's assistant at Selhurt Park during his tenure is available at 8/1 to take up the role, before the move to south London Lawrence held Director of Football roles at Bristol Rovers and most recently Hereford United, he has not managed a club in his own right since Cardiff City in 2005.
Curtis Fleming is a 10/1 shot to take the role. He joined Freedman's backroom staff in July 2010 and has been in charge of the development squad and more recently, as a first team coach.
|Next Permanent Crystal Palace Manager
|Odds courtesy of Paddy Power
McCarthy may well be holding out for a job in the Premier League though and his previous time with Palace's local rivals Millwall, both as a player and a manager - mean he might not be a universally popular choice to replace Freedman.
Crystal Palace's prolific youth academy has produced some of English football's most promising players over the last few years.
One of the key objectives of the new manager will be expected to continue that progression with the likes of Wilfried Zaha being tipped to follow players like Sean Scannell and Nathaniel Clyne out of the door in the near future.
Sean Dyche has experience of working within a club with a similarly successful academy, his previous club Watford nurtured talents such as Marvin Sordell and Adrian Mariappa during his time there.
The 41-year-old left the Hornets after a change of ownership at Vicarage Road and Gianfranco Zola was subsequently appointed.
During his spell at Watford he was judged to have performed well in his first managerial role with the resources he had available, Dyche is priced at 8/1 to be the next permanent manager at Selhurst Park.
MK Dons manager Karl Robinson is available at 14/1 to fill the vacancy, while he is regarded as a good young English manager his failure to get the Dons promoted in recent seasons could count against him.
Mark Bright, who spent six years playing for the Eagles is amongst the names being linked in the early going, is a 14/1 shot to swap his punditry role for one in the dugout.
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Jim Knight is Betting Editor at Goal.com and has been tipping football games since he was old enough to place a bet. He is a Leicester City fan, writer and member of the We Are Going Up Podcast
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