The Eagles boss stormed out of his post-match press conference on Saturday when asked if he had spoken to Queens Park Rangers about becoming their new manager.
Reports have been circulating in recent weeks that Warnock had spoken to the Loftus Road outfit even before the season started.
Although Warnock has insisted publicly that he is staying at Selhurst Park despite the club going into administration, a Palace insider involved with the administration process told FourFourTwo: “He has spoken with QPR twice.
"Compensation hasn't been agreed with Palace and Steve Parish [the club's prospective buyer] has personally spoken with Warnock to ask him to stay.
"For certain, he met with QPR before Jim Magilton got the job. Parish believes that Warnock will almost certainly go.”
Palace’s desperation for cash is such that they may even let the man who has kept the team going under such difficult circumstances, leave on the cheap.
One source told FourFourTwo: “There is definitely a £1 million compensation clause in his contract, but I doubt the club would hold out for that much.”
Now 61-years-old, Warnock has often said that he wants to manage in the Premier League one last time before he retires, and he is now far more likely to achieve that goal with the financial backing available at Loftus Road than at Palace.
Warnock has become somewhat of a cult hero amongst Palace fans since his arrival in October 2007, and the message from the Selhurst Park faithful was loud and clear.
A statement from one noted Palace supporter states: “The Palace fans really want Neil Warnock to stay and help us stay up and give us some hope in the FA Cup. We know it is hard but he has done so much for the club and we need him now more than ever.”
In the meantime Palace have a midweek FA Cup replay at Aston Villa. A win will go a long way to ensuring that the club has the necessary funds to see out the rest of the season – with or without Warnock.
Reporting by Kieran Lovelock
