By Saj Chowdhury

Taylor helped England reach the European Under-21 finals

Peter Taylor has stepped down from his role as England Under-21 coach.

The 54-year-old was dividing his time between the under-21s and managing Crystal Palace but said he wanted to concentrate on the Championship club.

"I can't do it anymore and devote my time to helping the team ahead of June's European Under-21 Championship in Holland," Taylor told BBC Sport.

"Anybody coming in would have to commit a lot to the job. I'm sad but I've had a great time with England."

He added: "I'm proud of having seen some players go on to the senior squad."

606 DEBATE: Your views on Taylor's departure

Taylor steps aside following his second spell with the under-21 squad that began in 2004 - his first stint was between 1996 and 1999.

England reached this year's European Championship finals after they beat Germany in a two-leg play-off, thanks partly to Theo Walcott's double strike in the away fixture.

Taylor's successor is set to be appointed before the friendly against Spain at Derby's Pride Park next week.

Names being touted for the role include Manchester City boss Stuart Pearce and Southend manager Steve Tilson, who was asked by Taylor to help with preparations for the qualifier against Moldova last August.

However, Tilson has played down reports linking him with the role.

He told BBC Essex: "It's a great job, but I'm enjoying what I'm doing at the moment and my aim is to keep Southend in the Championship and move into a new stadium.

"It's great to be linked with the position and I enjoyed helping Pete out and working with some top players. We'll see what happens, you know what speculation's like."

The identity of the new coach may be revealed later on Thursday.