QPR chairman Tony Fernandes did not want to see Mark Hughes sacked on Friday.
The Telegraph says Fernandes was outvoted by his fellow Malaysian shareholders over the sacking of Hughes.
Fernandes had fought to keep Hughes in his job but met strong opposition from Kamarudin Bin Meranun - who held talks with Hughes earlier this week - and Ruben Emir Gnanalingam. Amit Bhatia, the fourth QPR shareholder, is thought to have been less vociferous than the other two in trying to force Hughes out but agreed with the decision.
Fernandes was persuaded after Harry Redknapp, who took his seat in the Old Trafford directors' box, set QPR a deadline of Saturday to make up their minds. Redknapp insisted that otherwise he would accept an offer to become the new coach of Ukraine.