Dowie, sacked by Ray Ranson back in February for failing to be a yes man, is a former QPR player and is tipped to succeed Luigi Di Canio who was dismissed last week.
Although, Zinedine Zidane has been mentioned as a candidate and later denied, Dowie appears the latest hot favourite.
A move to the club with the sort of finances that Bernie Ecclestone and his cohorts have come up with,would suit Dowie down to the ground and if he were to be appointed, Tim Flowers would be expected to become his assistant with possibly fitness coach John Harbin also going to Loftus Road.
Dowie and Former City Academy Director Richard Money are amongst the favourites to become the new manager of Leicester City if Ian Holloway is dismissed later today.