Good afternoon everyone! The big football news of the day has just broken, with Harry Redknapp stepping down as Queens Park Rangers boss seemingly out of the blue. We are here to bring you all of the reaction and latest developments from the story.

First things first, you can find the whole story on Redknapp's resignation here. The veteran manager has cited an impending knee operation as the main reason behind his decision to step down, rather than the club's poor form.

Here is what Redknapp has had to say to QPR's official website regarding his sudden departure:

"I have had such a fantastic time at QPR. I would like to thank the board, the players and all my staff, and especially the supporters who have been absolutely fantastic to me since I arrived at the club for their tremendous support.

"Sadly, I need immediate surgery on my knee which is going to stop me from doing my job in the coming weeks. It means I won't be able to be out on the training pitch every day, and if I can't give 100%, I feel it's better for someone else to take over the reins.

"My relationship with Tony Fernandes has been one of the highlights of my footballing career and I wish the club every success. I am confident they will survive in the Premier League this year."

QPR chairman Tony Fernandes has also passed comment on the news and insists that he still has a good relationship with Redknapp, despite the club's poor form of late:

"I would like to take this opportunity to thank Harry for everything he has done for QPR during his time in charge.

"We part on good terms and I would personally like to wish him all the best for the future."

How believable are you folk finding the knee operation excuse? It's hard to ignore QPR's dreadful form of late, with the club having lost their last four matches in all competitions, including an embarrassing 3-0 home defeat to Sheffield United in the FA Cup third round. They are without a win in seven overall and have picked up just two points from a possible 18 in that time.

Even worse has been their away form this season, with QPR having lost every single one of their 11 Premier League outings on the road. They are the first top-flight team to do that since Liverpool in 1953-54 and managed just six goals in those 11 away games, conceding a whopping 27.

QPR fans, how are you feeling right now? There didn't seem to be too many anti-Redknapp fans among the R's faithful despite their poor form, it must be said. However, the 67-year-old departs the club having posted the lowest win percentage of any permanent QPR manager in the Premier League. He emerged victorious in just 18.8% of his matches at the helm, having initially seen them relegated from the top flight and then just about promoted back via the playoffs last season.

It doesn't take a genius to make a link between QPR's lack of action on transfer deadline day and Redknapp's resignation the next day. The veteran boss is synonymous with late deals as the window closes, but things were unusually quiet at Loftus Road yesterday. A loan bid for Matt Jarvis, which would have also seen Mauro Zarate return to West Ham, failed to materialise, while any apparent interest in Emmanuel Adebayor was overshadowed by the Hammers being in for the player as well.

Speculation over Redknapp's replacement has already begun to mount, and the early favourite is Tim Sherwood, who has gone on record saying that he is keen to return to management soon. Glenn Hoddle, who already works at the club, is also a front-runner, while the likes of Aitor Karanka, Les Ferdinand and Chris Ramsey, the latter two of whom will take temporary charge of the team, have also been mentioned.

Of course, with Redknapp now 67, could we have seen the last of him in the dugout? The knee operation is likely to keep him out of action for a while, so it would be something of a surprise should he make a return. If this really is the end, what a long, eventful and successful career he has had in management.

The indomitable spirit of transfer deadline day, Jim White, has been talking to Redknapp, and it seems as if 'Arry has no plans of giving up football just yet:

As far as QPR's next few fixtures are concerned, it's a bit of a mixed bag. They've got home games against Southampton, Tottenham Hotspur and Arsenal to come, while they also face trips to Sunderland, Hull City and Crystal Palace.

Here are there next six matches in full:

Southampton (H)
Sunderland (A)
Hull City (A)
Tottenham Hotspur (H)
Arsenal (H)
Crystal Palace (A)

We're yet to hear from any of the QPR players on Redknapp's resignation, though you would expect that it'll only be a matter of time before the likes of Rio Ferdinand and Joey Barton give their thoughts on Twitter. Indeed, Barton has often credited Redknapp for giving him a lifeline at the club when it looked as if he didn't have a future at Loftus Road.

BREAKING NEWS! To cut away from the Redknapp story for a moment, Brazilian club Internacional have confirmed that they have signed Manchester United midfielder Anderson. You can read more about that here.

It will be interesting to see just how quickly Tony Fernandes acts to appoint Redknapp's successor. Time is running out for the R's to drag themselves out of the relegation zone, that's for sure. Les Ferdinand and Chris Ramsey are sure to know the players well, but will they give the squad sufficient motivation for their clash at home to Southampton on Saturday?

QPR supporters' trust member Jeremy Gardner has been talking to BBC Sport: "Let's face it, he hasn't looked happy in his job for quite some time and the results haven't been happening. The away record is just shocking.

"Yes, last season we did get promoted under Harry but the results in the last few months, particularly away, have been quite dreadful and we do have pretty good players in our squad.

"What we want to see is someone who can motivate and get the best out of that squad. What I would say is I'm not surprised by the announcement. The club must know his days were numbered so I would expect that the club has someone in mind and we'll get them in post quickly."

Of course, this is not the first time that Redknapp has parted company with a club in controversial circumstances. While the party line is that he needs a knee operation, you can't help but think that the club's inactivity in the January transfer window is behind all of this. Previously in his managerial career the 67-year-old left West Ham United, Portsmouth (twice), Southampton and Tottenham Hotspur in a fractious manner. This latest departure seems to be a continuation of that theme.

One name that has been linked with the vacancy at QPR is Brentford boss Mark Warburton. The 52-year-old has done a stellar job at Griffin Park, guiding the Bees up to fifth place in the Championship table this season. He is most likely to be keen to carry on with helping the club to gain promotion, but could the call of the Premier League be too strong?

Former England striker Gary Lineker has his thoughts over Redknapp's decision to resign...

It sounds as if Redknapp's managerial is far from over, with plenty suggesting that he will be back stronger than ever when he returns to full fitness. However, is that the last we'll see of him in the Premier League? He isn't getting younger, and there are plenty of hungry young managers out these days looking for jobs in England's top flight. In a way, Redknapp and QPR were a perfect fit. His vast experience mixed with Tony Fernandes's optimism seemed to go well together.

Former QPR player and manager Ray Wilkins has been having his say on Redknapp's resignation. He's told BBC Sport: "When the transfer deadline comes to a close you're obviously wanting to bring a few players in. There may have been a slight situation there but for Harry to resign he must have been in a lot of discomfort.

"Loftus Road is a great place to work, it's run very well. Their home form has been ok, it's their away form which needs picking up and, unfortunately, they've not been able to get results away from home. You always need that odd away result."

Remember, it wasn't that long ago that Redknapp was being widely touted as the next England manager. Roy Hodgson was eventually given the job, leaving Redknapp in the cold. The 67-year-old admitted after that it was probably his only chance to coach the national team.

That's all from our rolling news coverage of Harry Redknapp's resignation as QPR manager, but you can still keep up to date with all of the latest news and gossip regarding that story here on Sports Mole. We will be bringing you all of the developments throughout the remainder of the day, so you won't miss a thing. Thanks for your company, we hope to see you soon. Goodbye!