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Speculation that emerged on the weekend suggested the out-of-favour West Ham player was set for a big pay day with a move to America's Major League Soccer.
However, ESPN claims the 33-year-old could make a loan move to English Championship leaders QPR.
'QPR have offered to pay some of McCarthy's £50,000-a-week salary and would then be prepared to make a permanent move if they secure promotion to the Premier League,' read the report on the American website.
'West Ham are open to offers for McCarthy and even England striker Carlton Cole as they attempt to sign two new strikers,' it added.
McCarthy has failed to make an impact at the Hammers and seemingly has no future with the English Premier League outfit.
If his income is protected - as ESPN claims - then he may well be tempted to drop down a division and join the Hoops.
In related news, Bernard Parker could also ply his trade in England's second division following confirmation that his current employers FC Twente have accepted Leicester City's bid for the forward.
