Sacked QPR boss Neil Warnock is wanted by Leeds United chairman Ken Bates.
The Daily Mail says Bates ran out of patience with Simon Grayson on Wednesday and is set to turn to former QPR boss Warnock this month.
But Sheffield-born Warnock's £15,000-a-week Loftus Road wage is double the amount Grayson earned at Leeds and he will have to lower his sights to earn a deal.
The axe fell on Grayson after Tuesday's 4-1 home defeat by Birmingham, with assistant manager Glynn Snodin and coach Ian Miller following him out of the door.