The police are investigating a banner unfurled by Crystal Palace fans ahead of the game against Newcastle United.
Newcastle was taken over earlier this month by a Saudi Arabia consortium.
Croydon Metropolitan Police said on Twitter:
“On Saturday 23 October, police received a report of an offensive banner displayed by Crystal Palace fans.
“Officers are assessing the information and carrying out enquiries.
“Any allegations of racist abuse will be taken very seriously.”
Palace fan group Holmesdale Fanatics admitted they’d flown the banner.
In a statement on Twitter the group said:
“The Saudi led takeover of Newcastle has rightly received widespread condemnation and anger.
“To give the ‘thumbs up’ to this deal at a time when the Premier League is promoting the women’s game and inclusive initiatives such as rainbow armbands, shows the total hypocrisy at play and demonstrates the League’s soulless agenda where profits trump all.”
The game at Selhurst Park ended a 1-1 draw.