Friday 5 June 2015 13:05, UK
Former Atletico Madrid boss Quique Sanchez Flores has signed a two-year deal to become the new Watford head coach, Sky sources understand.
Previous incumbent Slavisa Jokanovic's contract talks broke down last month over his wage demands.
Jokanovic was appointed as the Hornets' fourth coach of the season in October, and went on to guide the Hornets back into the Premier League as Championship runners-up to Bournemouth.
Jokanovic's current deal expires at the end of June, and it is understood the 46-year-old had been offered significantly improved terms of around £1million basic salary, plus another £1m in performance-based payments.
However, the Serb was seeking some £2.5m in wages alone, which would not only have broken the pay structure of the Vicarage Road club, but also pushed Watford out of line with the basic earnings of other more experienced managers in the top-flight.
Spaniard Sanchez Flores, 50, will bring an impressive CV to England, having guided Atletico to the Europa League title in 2010 with a win over Fulham in the final, as well as coaching in Portugal at Benfica and more recently with Al Ain in the United Arab Emirates.