Leicester City were promoted to the Premier League on Friday after rivals Leeds United suffered a shock 4-0 defeat to Queens Park Rangers.
The result leaves Leicester top of the championship with 94 points with two games to go, while Leeds remain second with 90 but just one game to go.
Third-placed Ipswich Town could push Leeds into second place in automatic promotion as they currently have 89 points with three games still to play.
“It’s no longer in our hands (automatic promotion), we need to be honest,” Leeds manager Daniel Farke told the BBC.
“The race is not over yet, if Ipswich win the next two games I will say congratulations, but if they don’t win we will have a lot to play for (against Southampton on the last day of the season).
“As long as we have a chance, I’m far from giving up.”
Enzo Maresca’s Foxes were promoted at the first time of asking, having been relegated from the Premier League last season.
The final two games begin with a trip to Preston on Monday before wrapping up the season with a home final against Blackburn on May 4.
Leeds will be out of the top two if Ipswich beat Hull on Saturday or Coventry in the game in hand on Tuesday.
If Ipswich win both, they will be promoted, while Leeds will have to enter the play-offs.
“Congratulations to QPR and congratulations to Leicester,” Farke added.
“In the first 20 minutes we didn’t do the basics and QPR took advantage of that effectively to win 2-0.”
Leicester were surprisingly Premier League champions in 2016, but were relegated with Leeds and Southampton last season.
The Foxes were heading towards promotion in February when they were 12 points clear at the top and had a 14-point lead in third place.
On Tuesday they faced fellow promotion contenders Southampton after losing six of their previous 11 games.
However, they defeated Saints 5-0 thanks to Issahaky Fatawu’s hat-trick and goals from Wilfred Ndidi and striker Jamie Vardy.
That resounding victory put them on the brink of returning to the Premier League.
Promotion joy will be dampened after they were charged in March by the Premier League for alleged breaches of profit and sustainability rules (PSR) relating to their last three years in the top flight.
If found guilty, Leicester could restart life in the top flight with a points deduction.
Meanwhile, goals from Ilias Chair, Lucas Andersen, Lyndon Dykes and Sam Field gave QPR a deserved victory over Leeds and ensured their survival in England’s second tier.
QPR came second in the Championship when Marti Cifuentes replaced Gareth Ainsworth in October.
“It was a fantastic night. We worked hard to achieve this type of performance,” said Cifuentes.
“Throughout the journey we showed mental resilience. The whole club felt that we were facing a huge challenge, but we were all together.
“I’m very happy for the players, the fans and the club. It was a difficult task, but we managed a great escape.”
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