It's increasingly looking as if only one automatic promotion place is up for grabs this season because, on the eve of Financial Fair Play, QPR are going shit or bust on pocket jacks.
Redknapp has made some sensible signings, has retained the core of a decent Championship team and now, in the form of Phillips, has added a genuine ace to the pack.
This boy is good. He's quick, skilful and is unquestionably one of the better players in the division. Johnson, Austin and Zamora will thrive on his crosses, if they can stay fit, and it will now take one unholy cock up, or a dreadful plague of injuries, to stop QPR bouncing straight back into the Prem.
I was no fan of Fernandes in the Prem because he was chucking his money around as if QPR had a right to sit at the very top table, but buying total mediocrity. The gRRRs couldn't see it, of course, and like Leeds fans under Warnock, hailed the arrival of every journeyman signing as if he was Gareth Bale. And Rangers got what they deserved, a bloody nose.
But full marks to the QPR Board now. It may blow up in their faces, but when there is a huge pot on the table and you have a pretty decent hand, you have to play it for all its worth. Whilst clubs like Leicester and Leeds use FFP as an excuse for penny pinching and navel gazing, Fernandes has said, "Bollocks, let's get out of this pox arse division before the penalties cut in." And all credit to him.
The fans of other teams will chunter away about the need for a level playing field but clubs like Leeds enjoy much bigger gates than QPR and with more visionary leadership, could be sending out a similar message. McDermott has said he wants a winger, and would no doubt have given his right arm to sign Phillips. But despite history, Leeds are now a financial minnow alongside the rainbow trout that is QPR.
So Forest, Wigan, Watford, Leicester, Leeds and co are all now competing for one place, or a ticket to the misery that is the play offs.