Everton striker James Vaughan has taken a massive pay-cut to join Crystal Palace on-loan.

The Mirror says Vaughan is taking a pay cut to play for Crystal Palace - after leaving Everton on loan for three months.

The young striker agreed to the switch but Palace could not afford to pay his £15,000-a-week wages in full, so the Goodison starlet agreed to take less for the rest of the year.

Vaughan has taken a cut, believed to be about £5,000-a-week, just to get back into action after a frustrating spell on Merseyside marked the end of his chances at Everton.

Palace are delighted with the gesture and Everton are also happy to have his wages off their payroll. Blackpool, Sheffield United, Burnley and Derby also tried to make the deal happen but Vaughan chose the Eagles.