Guardiola's side have lost eight of their past 11 games in all competitions following the devastating 2-1 defeat in the Manchester derby at the Etihad Stadium on Sunday.
Manchester City have won just once in 11 games in all competitions, a run that includes eight defeats.
Enzo Maresca's high-flying Chelsea beat Brentford 2-1 at Stamford Bridge to close to within two points of long-time leaders Liverpool, who have 36 points.
Josko Gvardiol's first-half goal appeared to have won the game for the Premier League champions but Bruno Fernandes levelled from the penalty spot in the 88th minute and the impressive Amad Diallo poked home the winner two minutes later.
Guardiola's side have won once in their last 10 matches in all competitions, sit fourth in the Premier League, eight points behind leaders Liverpool, and are in danger of a humiliating exit from the Champions League.
However, profits dipped from £80.4 million in City's treble-winning 2022-23 campaign to £73.8 million last season.
Manchester City were plunged further into crisis on Wednesday after falling to a 2-0 defeat at Juventus which threatens their chances of reaching the last 16.
The English champions stand accused of 80 breaches of financial rules between 2009 and 2018, plus a further 35 of failing to cooperate with a Premier League investigation.
Manchester City are fourth in the league table on 27 points after 15 games, while Palace are 16th.
The defeat dropped City to second spot, two points behind Liverpool who recovered to beat Brighton & Hove Albion 2-1.
Manchester City suffered their first Premier League loss since December as Bournemouth stunned the champions, while Arsenal were rocked by Newcastle and Liverpool seized top spot on Saturday.
Brazil coach Dorival Junior said that it was an injustice that forward Vinicius Junior did not win the Ballon d’Or this year.
Pep Guardiola says Manchester City face an "emergency" in certain positions as he grapples with a punishing injury list ahead of Saturday's trip to Bournemouth.
Rodri becoming the first Manchester City player to win the Ballon d'Or award for the best player in the world on Monday did come as a surprise to many, and with ample reasons too as he pipped favourite Vinicius Junior of Real Madrid and Brazil to lift the most prestigious individual award in football.
Manchester City's Erling Haaland scored an early goal to take the champions provisionally top of the Premier League with a 1-0 victory over lowly Southampton at Etihad Stadium on Saturday.
Pep Guardiola saluted his Manchester City stars' "incredible" mentality as he insisted his bond with the squad is as strong as ever.
The Norwegian scored twice, including a backheel at shoulder height, as City ran riot against the Czech champions.
Manchester City snatched a controversial 2-1 win at Wolves as John Stones' last-gasp goal was given after a VAR review to send the champions to the top of the Premier League on Sunday.
A tipping point has seemingly been reached in world football’s increasingly hectic schedule, as evidenced by the several high-profile injuries in recent weeks leading up to the latest FIFA window.
