Neil Warnock has left Crystal Palace to become the new manager of Championship rivals Queens Park Rangers.

Palace's administrators gave Rangers permission to speak to Warnock earlier today and the 61-year-old has signed a three-and-a-half year deal.

Warnock, who becomes QPR's fifth manager of the season, said: "Looking from afar, I believe this is the perfect time for me to come in, with the new structure and the chairman in place. "Together we can give the club the stability it needs. I am looking forward to the challenge that is in front of me."

The Yorkshireman's position has been a source of constant speculation since his friend Simon Jordan lost control of the club last month and it went into administration.

The subsequent 10-point deduction has left Palace, who had been chasing a play-off spot, in the thick of a relegation battle.

But he is swapping one team scrapping for survival for another. QPR are just one place and three points ahead of Palace after a disastrous run of results.

However, Warnock leaves with the club one place above the relegation zone thanks to Saturday's 1-1 draw at Doncaster Rovers.

Two successful former Palace bosses are likely to be in the frame to replace Warnock - Steve Coppell and Iain Dowie.

Former Middlesbrough boss Gareth Southgate, who made his name as a player at Selhurst Park, would also be a popular choice among supporters.

More contentious would be former Bolton boss Gary Megson, who was involved in a long-running feud with Warnock which dates back to his time managing West Brom and a fixture at Sheffield United.

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