Crystal Palace agree Puncheon loan deal
The winger, born within walking distance of Selhurst Park, played for Palace as an eight-year-old and has returned to the club in their first season back in the Premier League since 2004-05.
Puncheon, who made 32 appearances for Southampton last season, recently signed a new contract at St Mary's until 2016, but a lack of first-team opportunities has prompted him to make the move.
The 27-year-old links up with Ian Holloway for the second time, having also played for him during Blackpool's season in the top flight.
And he admitted that the manager was a big factor in his decision.
"I know Ollie really well. He was a massive factor in this move," Puncheon told the club's official website. "He knows the league. He's done it before and I think he will learn from his time at Blackpool and bring it into the team here.
"I actually played for Crystal Palace as a kid when I was eight. I left and there were a few times in my career that I was due to come back but didn't. Now I'm here that's the main thing.
"I've always as a young kid dreamed of playing at Selhurst Park, so it's a young boy's dream coming true."
As part of the loan agreement, Puncheon will not be able to play for Palace in either fixture against Southampton this season.