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By ESPN Staff

QPR suspend Leicester target Holloway

QPR have placed manager Ian Holloway on 'gardening leave' as speculation mounts over the possibility of him taking over at Championship rivals Leicester.

Assistants Gary Penrice and Tim Breaker are also on 'gardening leave', with Gary Waddock being appointed caretaker manager at Loftus Road and he will now prepare the side for next Saturday's derby against Millwall.

Chairman Gianni Paladini said: 'QPR have not sacked Ian, but we are concerned about recent performances and the effect the speculation about Ian joining Leicester City might have on the players.

'I hope we can sort something out with Ian as soon as possible. QPR will always be enormously grateful for the contribution he has made over the past five years, in particular gaining promotion for us in 2004.

'However, it is crucial the team are focused and able to move forward, which is why we have appointed Gary as caretaker manager. I hope the fans will get behind Gary for the home derby against Millwall on Saturday.'

• Meanwhile, Leicester have insisted they are no closer to naming their new manager - despite Ian Holloway's suspension at QPR.

Weekend reports had placed Holloway among the favourites to replace Craig Levein in the Walkers Stadium hot-seat and that speculation has been fuelled by the announcement the eccentric manager has been placed on 'gardening leave'.

Luton boss and former Leicester player Mike Newell has also been linked with the job and has had talks with the Foxes, but a club spokesman insisted no decision had yet been made.

The spokesman said: 'The process of finding a new manager is still taking place and we won't be commenting on speculation.

'There is no timescale for when we will appoint a new manager.'