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"QPR have agreed a fee with Newcastle United for Wayne Routledge.
The winger has fitted in seamlessly on his return to Loftus Road as cover for the injured Jamie Mackie and Rangers are keen to keep him next season.
But the deal is likely to hinge on Rangers clinching promotion.
"I think they've sorted out a realistic figure," said Rs boss Neil Warnock
"I can't give exact details, but I think we've agreed everything with the club should it go ahead.
"I don't think there's any rush for either of us. We'd like to sign him, whatever happens, but I imagine it depends on where we end up, because I think Wayne would like to play in the Premier League. If things went wrong for us, then he'd probably go back.
"He's got to be enjoying it because of the way he's playing and we're enjoying having him. We'd love to keep him."
Warnock added: "I thought he'd do well for us. That's why I chased him for so long and talked to him so many times. Pestered him, in fact.
"It can sometimes be difficult coming back to a club, but I told him it was a lot different now and I felt the club was geared up to let him play his best.
"I thought we were a solid side and I thought you need players like Wayne to win games and I'm delighted to get him."
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