Sherwood has not managed since being sacked by Villa in 2015

Queens Park Rangers have held talks with Tim Sherwood about replacing Steve McClaren at Loftus Road after the former England manager was sacked yesterday.

The former Tottenham Hotspur and Aston Villa manager has concerns however over their precarious financial position so they could consider John Eustace, McClaren’s assistant, as the interim manager until the end of the season.

McClaren has overseen a dismal run of just one win in 11 matches REX FEATURES

The Sky Bet Championship strugglers are facing a summer of budget cuts and limited transfer spending even if they stay in the second tier after being fined £42 million by the EFL last year for breaching the competition’s profit and sustainability rules.

The club’s wage bill of about £30 million remains among the highest in the Championship, which poses a particular problem given they are not in