The Eagles gave Wright his big break when they plucked him from non-league Greenwich Borough in 1985.
He went on to fire the club to the FA Cup final in 1990 before joining Arsenal for £2.5million.
And Wrighty admits he would be tempted by a coaching role if former Palace owner Ron Noades rescues the cash-strapped Championship outfit.
The former England striker said: "I hear Ron is thinking about getting involved again and so is Steve Coppell.
"What Palace need is people who love the club and people the fans can trust.
"The fans have been left in the wilderness by the people who are running Palace — and now look where they are.
"I don't think the supporters realise how much Ron has done for the club, or how much he loves it.
"The fact he wants to go back in again to help out in some capacity with Steve is good news, very good news.
"I do love Palace, it's the place where it happened for me.
"I still look up to Ron a lot and if I was going to go there under his leadership, with Steve there as well, then yeah, I'd consider doing something."
Palace are currently just a point off the Championship drop zone after being slapped with a 10-point deduction for slipping into administration.
Former owner Simon Jordan had been trying to offload the club before the administrators moved in and not even the sale of talented youngster Victor Moses to Wigan last month was enough to keep them afloat.
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