Harry Redknapp will remain as QPR manager after chairman Tony Fernandes moved to rubbish reports he was set to sack the 67-year-old.
There had been speculation last week that Redknapp was close to losing his job, with the R's down in 19th place in the Premier League and without a win in six games in all competitions.
Manchester United won 2-0 at Loftus Road on Saturday to leave QPR in the relegation zone but Fernandes issued a statement backing Redknapp.
"I firmly believe Harry is the best man to get us out of the position we currently find ourselves in," the statement read.
"He has great experience and having spoken to him at length over the last week or so, he is determined to turn this around and help us maintain our Premier League status.
"This is Harry's squad of players, so he is the man to move us forward."
QPR manager Harry Redknapp believes "there's no point losing sleep" about the possibility that he'll be sacked by the club.
Reports this week have suggested the former Spurs and Portsmouth boss will lose his job at Loftus Road if the Premier League strugglers are beaten by Manchester United on Saturday.
I've got a great relationship with owner and the shareholders, but if they want to take a change of direction then that's their decision.
There's nothing I can do about that, whatever they do they do. There's no point losing sleep.
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Harry Redknapp's post match comments after QPR's 2-3 defeat against Liverpool on Sunday suggest Adel Taarabt weighs some 15 stone.
The 67 year-old launched an astonishing attack against Taarabt, claiming he cannot "protect people who are about three stone overweight," after being quizzed about why the Moroccan was absent from his matchday squad.
I pick people that want to try, and deserve to be at a good football club like QPR, and want to work, and come in every day and want to work, and train, and show a good attitude.
And that's what I got today from the players. When he starts doing that, whether he ever can do it, maybe he'll get a game.
The other lads, I've got a fantastic group of lads here, absolutely superb, all of them. I can't keep protecting people who don't want to run about and train, who are about three stone overweight. What am I supposed to keep saying, keep getting your 60, 70 grand a week but don't train?
According to the NHS, the ideal weight for a healthy man of Tarrabt's 5 ft 11 in frame is around 75 kilograms, or 12 stone, which suggests the attacking midfielder is currently 15 stone.
QPR remain rooted to the foot of the Premier League with four points from eights games following the dramatic defeat against Liverpool.
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Queens Park Rangers manager Harry Redknapp said he is "in Jack Wilshere's corner" over the England players row.
The Arsenal midfielder said "the only people who should play for England are English people", leading to criticism on Twitter from cricketer Kevin Pietersen - who was born in South Africa.
However, Redknapp told BBC Radio 4's Today programme that he agreed with Wilshere.
He said: "I really feel that if we are going to allow lads to come in here at 17 years of age and suddenly within a couple of years they're eligible to play for England then we're going to end up...where youth teams are absolutely full-up with players that are bought in from other clubs abroad.
"We'll end up with no English kids in the team, I can see that happening in the future, where it'll be three of four English boys and the rest will be lads that have come in here at 16, 17 because they're the cream of the crop abroad."
"I'm absolutely with Jack," Redknapp added.
Former Tottenham manager Harry Redknapp has revealed he was conned into paying for three years of dinner, match tickets and travel expenses by a man who claimed to be a jockey.
In a section of his autobiography serialised in the Daily Mail, Redknapp describes how a man who said he was top young jockey Lee Topliss turned out to be a pub potwasher with a way with words.
The 66-year-old said he felt sorry for the prankster, whose racing tips turned out "more losers than winners", and ended up buying him dinner and taking him along to directors' boxes at matches.
The "little Irish rogue" was found out when Redknapp's agent friend met the real Lee Topliss at a race.
"I’m told he was working the same racket with Liverpool’s Glen Johnson, plus a couple of football agents and other managers," Redknapp adds.
QPR manager Harry Redknapp could face a trial after pleading not guilty to two driving offences.
He is accused of driving at 38mph in a 30mph zone in Poole, Dorset, last October.
Redknapp is also said to have failed to supply the driver's identity as required.
According to the Bournemouth Echo, prosecutor Charles Nightingale told the court Redknapp had not been able to ascertain whether he or his wife had been driving the car at the time of the alleged offences.
Harry Redknapp has admitted trying to keep QPR in the Barclays Premier League will be his toughest challenge yet.
He said: "I'm optimistic we can pull it off.
"I want to be successful here, really badly. I want to keep this team in the Premier League."If the players try as hard as I am going to try we'll be successful."
Redknapp confirmed a deal was being done to bring in long-time assistants Joe Jordan and Kevin Bond to assist him.
And he warned the players he would not tolerate a lack of effort.
"We've got to do better to give ourselves any chance of getting out of this mess," he said.
"I need 11 people with ability to put effort in. If they don't they're not going to play and I'll get 11 people who do."