Allardyce is coming to terms with the fact that Warnock will be heading to Villa before the closure of the transfer window and he is now searching for a replacement, but time is running out.
Cerdan is being linked with a £2million switch and Allardyce says the race is on.
"We're resigned to losing him if they meet our valuation - but how long do you wait?" he revealed.
"It tends to be panic stations as the window is about to close and it'll be no different this time."