Tony Fernandes has confirmed that Harry Redknapp will remain as QPR manager following talk that the 67-year-old was facing the sack.
Speculation had mounted in recent weeks that Fernandes was ready to dismiss former Tottenham boss Redknapp with QPR struggling in the Premier League drop zone.
Redknapp laughed off the rumours in the wake of QPR's 2-0 defeat to Manchester United at Loftus Road on Saturday, claiming he had been given no indication by Fernandes that his position was under threat.
And Fernandes has now moved to reaffirm his commitment to Redknapp - who led QPR back to the Premier League via the play-offs last season - and is confident he has the right man to ensure survival in the top tier.
"There's been a lot of rumours about Harry's position being under threat, so I thought it was time to end all the speculation, so everyone can focus on the challenge ahead," Fernandes said in a club statement on Monday.
"I firmly believe Harry is the best man to get us out of the position we currently find ourselves in.
"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."
Fernandes also stated his belief that QPR's players are fully supportive of Redknapp in their battle for survival.
He added: "The performance against Manchester United showed the players are behind him and that they have the stomach for the fight.
"We know we need to improve our away form and Harry, his coaching staff and the squad will be doing all they can to turn around our fortunes on our travels.
"It's very tight in the table and we will do our best to strengthen where we can to give us the best possible chance.
"The fans have been brilliant all season and all I ask is that they continue to back Harry and the team."
QPR remain the only team in the top four divisions of English football to not have picked up a single point away from home this season, and their next Premier League game sees them visit Stoke City on January 31.