The former Tottenham boss is odds-on to take over at Loftus Road after Mark Hughes paid the price for a poor start to the Premier League seasonHarry Redknapp is the very short price of 1/12 (1.08) to take over at QPR after Mark Hughes was removed from his post, just a day before Rangers are due to take on Manchester United at Old Trafford in the Premier League.
Rumours had circulated that Hughes would be the first Premier League manager to leave earlier in the week but it was announced on Monday that he was to remain in charge of the west London club, although several bookmakers listed him as short as 1/4 (1.25) to be the first Premier League manager to leave his post.
Two days later Roberto Di Matteo left Chelsea following a disappointing defeat to Serie A champions Juventus and now Hughes has followed suit, although the team have not played a game since Monday's supportive message was circulated.
The timing of such a move could be down to Harry Redknapp's discussions with regards taking charge of the Ukrainian national side earlier in the week, and the bookmakers are in doubt about who they believe is an imminent appointment at Loftus Road.
Other candidates listed by Paddy Power include former England boss Sven Goran Eriksson at 14/1 (15.0), Di Matteo at 15/2 (8.50) and Didier Deschamps who is another outsider at 50/1 (51.0).
Although the value in next manager markets is often to back an outsider rather than those immediately linked with the job, the timing of this move would support Harry Redknapp as the likely candidate to replace Hughes in the Loftus Road dugout.
With the potential money to spend, a talented squad and the location of the role itself, most punters will not see this as an opportunity to back an outsider in the hope that their price tumbles over the coming days.
Sign up with Paddy Power for up to £250 in free bets
Jim Knight is Betting Editor at Goal.com and has been tipping football games since he was old enough to place a bet. He is a Leicester City fan, writer and member of the We Are Going Up Podcast
Follow Jim on