Neil Warnock has been confirmed as the new manager of Coca-Cola Championship side QPR after a compensation package was agreed with Crystal Palace.
Warnock has agreed a three-and-half-year contract at Loftus Road after Rangers made contact with the administrators at Selhurst Park over the weekend.
"I am delighted to be joining a club with the history that QPR has," Warnock told www.qpr.co.uk.
"As a manager, Loftus Road is always a place I loved because of the fantastic atmosphere there.
"Looking from afar, I believe this is the perfect time for me to come in, with the new structure and chairman in place.
"Together we can give the club the stability that it needs. I am really looking forward to the challenge that's in front of me."
Warnock will become the Rs' seventh manager, excluding a raft of caretaker bosses, in less than three years. The club are seeking to rebuild after a turbulent period that has also seen the departure of Flavio Briatore as chairman.
Warnock, 61, had been in charge of Palace since October 2007 and has also had spells at Sheffield United - whom he guided to the Premier League - Bury, Oldham, Plymouth, Huddersfield, Notts County and Scarborough.
His future at Palace was thrown into doubt after the club entered administration last month, a move bringing a 10-point penalty that transformed Warnock's troops from play-off hopefuls to relegation battlers.
Ishan Saksena, the managing director of QPR Holdings Limited, said: "Neil was always our number one target and so we are delighted to announce him as our manager.
"He has great experience in English football and a phenomenal track record. I believe he is the right man to help QPR achieve its ambitions.
"Neil will be given the full support of the board, and I know our fans will give him their full backing as well."
QPR confirmed caretaker manager Mick Harford and his assistant Tony Coton have stepped down from their respective roles.
Harford had been in temporary charge since the departure of Paul Hart in January.
"I was more than happy to help the club out when they asked me and I did the best I could during my time in caretaker charge," Harford said.
"The club needs an experienced manager in order to move forward and I wish Neil every success.
"He has joined a fantastic football club with brilliant supporters and I sincerely hope he does well.
"The club is in good hands now with the new structure, Ishan Saksena and (chairman) Gianni Paladini, and I believe QPR has a very bright future."
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