Harry Redknapp has reportedly persuaded him to take a huge wage cut but the club's hierarchy may still intervene to block the transfer.
Should the 36-year-old's move be blocked by the board, then, the Rs may lose out on both their centre-back targets.
A third defensive target, former Fulham man Brede Hangeland, has also been the subject of fresh speculation, as the Daily Star have reported that Cardiff want to beat QPR the 32-year-old's signature.
Meanwhile, QPR owner Tony Fernandes has completed his sale of the Caterham Formula 1 team.
In other news, Alejandro Faurlin has signed a new one-year deal with the west London club, while Adel Taarabt could also stay with Redknapp's side as his £65,000-a-week wages appear to have scuppered any chances of a move away from Loftus Road.
QPR have also reportedly bid £4m for Nottingham Forest defender Jamaal Lascelles.
Felix Magath has made his fourth signing of the summer after Fulham announced the capture of FC Basel defender Kay Voser for an undisclosed fee.
Voser joins Tim Hoogland as another member of the Cottagers' squad to have played in the Champions League, featuring eight times in the competition last season.
Elsewhere, Magath has been speaking about Neymar on German television, suggesting that he would not even sign the Brazilian for free as he prefers 'team players.'
The comments appear innocent enough but they could have implications for Bryan Ruiz, a creative attacking midfielder who would fit more into the 'individual' category.
Fulham defender Stephen Arthurworrey has also signed a one-year contract extension at Craven Cottage.
Will QPR end up with Ferdinand, Caulker, both or neither?