It was claimed on Tuesday that the Scot was the leading candidate to take over at Selhurst Park following Tony Pulis's recent departure.
However, talks between Mackay and the club have now broken down, according to Sky Sports News.
Ex-Tottenham Hotspur manager Tim Sherwood has also been linked with the vacancy at Palace.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Liverpool | 20 | 14 | 5 | 1 | 48 | 20 | 28 | 47 |
| 2 | Nottingham ForestNott'm Forest | 21 | 12 | 5 | 4 | 30 | 20 | 10 | 41 |
| 3 | Arsenal | 20 | 11 | 7 | 2 | 39 | 18 | 21 | 40 |
| 4 | Chelsea | 21 | 10 | 7 | 4 | 41 | 26 | 15 | 37 |
| 5 | Newcastle UnitedNewcastle | 20 | 10 | 5 | 5 | 34 | 22 | 12 | 35 |
| 6 | Manchester CityMan City | 21 | 10 | 5 | 6 | 38 | 29 | 9 | 35 |
| 7 | Bournemouth | 21 | 9 | 7 | 5 | 32 | 25 | 7 | 34 |
| 8 | Aston Villa | 20 | 9 | 5 | 6 | 30 | 32 | -2 | 32 |
| 9 | Fulham | 21 | 7 | 9 | 5 | 32 | 30 | 2 | 30 |
| 10 | Brentford | 21 | 8 | 4 | 9 | 40 | 37 | 3 | 28 |
| 11 | Brighton & Hove AlbionBrighton | 20 | 6 | 10 | 4 | 30 | 29 | 1 | 28 |
| 12 | West Ham UnitedWest Ham | 21 | 7 | 5 | 9 | 27 | 41 | -14 | 26 |
| 13 | Tottenham HotspurSpurs | 20 | 7 | 3 | 10 | 42 | 30 | 12 | 24 |
| 14 | Manchester UnitedMan Utd | 20 | 6 | 5 | 9 | 23 | 28 | -5 | 23 |
| 15 | Crystal Palace | 20 | 4 | 9 | 7 | 21 | 28 | -7 | 21 |
| 16 | Everton | 19 | 3 | 8 | 8 | 15 | 25 | -10 | 17 |
| 17 | Wolverhampton WanderersWolves | 20 | 4 | 4 | 12 | 31 | 45 | -14 | 16 |
| 18 | Ipswich TownIpswich | 20 | 3 | 7 | 10 | 20 | 35 | -15 | 16 |
| 19 | Leicester CityLeicester | 20 | 3 | 5 | 12 | 23 | 44 | -21 | 14 |
| 20 | Southampton | 20 | 1 | 3 | 16 | 12 | 44 | -32 | 6 |
| > Premier League Full Table | |||||||||
