Leicester City were promoted to the Premier League on Friday after rivals Leeds United crashed to a shock 4-0 defeat at Queens Park Rangers.
The result leaves Leicester top of the Championship with 94 points with two games to play while Leeds stay second on 90 but with just one match left.
Third-place Ipswich Town can pip Leeds to the second automatic promotion place as they currently have 89 points with three matches still to play.
“It’s not in our hands anymore (automatic promotion), we need to be honest,” Leeds boss Daniel Farke told the BBC.
“The race is not over, if Ipswich win the next two games then I will say congratulations but if they don’t win them then we will have a lot to play for (against Southampton on the final day of the season).
“As long as we have a chance, I’m far away from giving up.”
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Enzo Maresca’s Foxes achieved promotion at the first time of asking having been relegated from the Premier League last season following a third-from-bottom finish.
Their final two games begin with a trip to Preston on Monday, before they round off the season with a home finale against Blackburn on May 4.
Leeds will find themselves outside the top two if Ipswich beat Hull on Saturday or Coventry in their game in hand on Tuesday.
Should Ipswich win both, they will be promoted while Leeds will have to enter the play-offs.
“Congratulations to QPR and congratulations to Leicester,” added Farke.
“In the first 20 minutes we didn’t do the basics and QPR used this in an effective way to be 2-0 up.”
Goals from Ilias Chair, Lucas Andersen, Lyndon Dykes and Sam Field gave QPR victory and guaranteed their survival in England’s second-tier.
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