Police are investigating a controversial banner unveiled by Eagles fans at Selhurst Park ahead of Saturday's 1-1 draw with Newcastle in the Premier League.
A graphic banner was held up by supporters in the Holmesdale End highlighting the human rights issues in Saudi Arabia and criticising the Premier League's owners' and directors' test.
It comes after English top flight chiefs gave the go-ahead for a consortium led by the Saudi state sovereign wealth fund to take control of Newcastle earlier this month.
talkSPORT host Jordan, who owned Palace for a decade from 2010, believes the supporters have every right to voice their feelings after Newcastle comfortably become the richest club in the world, despite their new owners' questionable human rights record.
Speaking about the protests, the White and Jordan host said: "I agree with the central theme. I think some of the language being used and the necessity for Palace fans to do it is troubling for me as it's my old club.
"But if somebody doesn't say something, who is going to say something?
"The idea that fans aren't entitled to a voice when players are entitled to a voice - they are allowed to do gestures.
"If people believe the Saudi regime - which is a murderous regime - is allowed to wash itself through our sports, why shouldn't they be allowed to say it?
After the match, the police said there would investigate any wrongdoing by the fans.
A post from the official Croydon Metropolitan Police Twitter account read: "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 supporters group Holmesdale Fanatics released a statement not long after the banner had been unveiled, before the match with Newcastle got under way.
"The Saudi led takeover of Newcastle has rightly received widespread condemnation and anger," Holmesdale Fanatics' statement read.
"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."