BBC Sport has learned that Serbian coach Slavisa Jokanovic is unlikely to remain at Vicarage Road beyond the summer.
The former Chelsea midfielder did well to help the Hornets return to the Premier League and he was widely expected to extend the contract that is due to expire in June.
However, the latest report suggest that Watford have opted against meeting Jokanovic’s wage demands, meaning he is almost certain to leave next month.
According to BBC Sport, the Hornets have opened talks with Quique Sanchez Flores, who is now a hot favourite to take over the reigns at Vicarage Road.
The 50-year-old made a name for himself in Spanish La Liga, leading Getafe, Valencia and Atletico Madrid, while he also enjoyed spells with Benfica, Al Ahli and Al Ain.
Watford chiefs will want to appoint the new coach as soon as possible as the club prepare for a difficult season in the top flight, with the Hornets priced at 2.20 (6/5) to stay up.
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