Palace's chief administrator Brendan Guilfoyle is currently trying to thrash out a compensation deal with officials at Loftus Road.
A source associated with the Palace administration told FourFourTwo: “Warnock will definitely leave. In effect he'll still be here as compensation is not yet agreed with QPR, but he has already agreed personal terms with QPR and has told the administrator that he'll resign later in week if compensation can't be agreed.”
As FourFourTwo reported earlier in the week, Warnock wants one more crack at Premier League football and stands a better chance of achieving his ambition with QPR's financial backing than at poverty-stricken Palace.
NEWS: Warnock on way to QPR
The move is another a huge blow to Palace, who also lost Victor Moses to Wigan in the transfer window.
Palace insiders told FourFourTwo “Neil Warnock is on £15,000 a week and Mick Jones and Keith Curle (Warnock’s assistants) are the most expensive coaching team in the division.
"The administrator has got the money to cover Warnock’s wages until the end of the season, so he will be able to make an external appointment.”
Palace fans' ideal replacement would be former manager Steve Coppell, who saved them from relegation when the club were in administration nine years ago, and he has indicated that the club still has a place in his heart.
Sources very close to Coppell say: “I think deep down he would want to go back, but he would need assurances the club will be saved – whether or not they go down.”
Last time Palace were in administration Coppell guided them to safety with the loan signing of Ashley Cole. A 2-1 home win over Blackburn in the penultimate game of the season meant that Palace stayed up and the club survived.
With the relegation battle getting ever tighter, the South London club will need every last bit of Coppell’s experience and knowhow if they are to do the same this time around.
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Reporting by Kieran Lovelock
