However, neither club is yet to agree a formal offer with the west London side - who are likely to demand £8 million, creating a £3m profit on the £5m they originally spent on him.
The Telegraph suggest Phillips is poised to leave, with West Brom, Crystal Palace and Sunderland all in negotiations with him at this point.
Tug of war
Phillips has long been linked with a QPR exit and West Brom have long been touted as his next destination. Crystal Palace and Sunderland's interest creates a tug of war, however, and one that may well invite new competitors in the coming weeks.
All three sides need wingers and have managers that value a wide man who can provide service for their strikers.
But whoever needs him most will likely have to simply pay higher wages, such is the number of Phillips' potential suitors. The £8m transfer fee, meanwhile, is a sharp increase from numbers previously touted. On top form, though, the QPR winger would definitely appear worth it for all three of the Baggies, Palace and the Black Cats. If he can produce top form consistently...