The Newcastle United defender has been the subject of heavy criticism but could be worth signing for his old manager.
Steve McClaren recently declared his intention to use the Argentine in the coming season but, considering the criticism Coloccini has received in recent months, the Magpies head coach may just be keeping his options open while very much thinking about a sale behind closed doors. He has also been linked with a move to Olympiakos, according to the Shields Gazette.
For Newcastle, a Coloccini sale makes huge sense. Chancel Mbemba's impending arrival will bolster the St James' Park outfit's defence, meaning the 33-year-old could be offloaded without losing numbers. Jamaal Lascelles has also joined up with the Magpies squad this summer for cover.
By that logic, though, one could argue Crystal Palace don't need Newcastle's scraps.
But there are two key reasons the Argentine could well be worth the risk for Palace. Of course, there's the Pardew factor. Plenty of the coach's former players appear keen to work with him. Coloccini's form may just improve under the guidance of his former boss, although that remains to be seen and is far from a foregone conclusion.
The second reason is perhaps more pertinent. Crystal Palace need a centre-back but what are their alternatives? Ashley Williams has been heavily linked, once again by the Daily Mirror on Tuesday morning. Swansea City, however, are said to be determined to keep their captain and previous reports have suggested they will settle for no less than £12 million for the defender.
Quite simply, Coloccini, someone Pardew is clearly a fan of, should be available for a lot less. Worth the risk?