Watford are set appoint Roy Hodgson as their new manager until the end of the season, the PA news agency understands.
The Hornets sacked Claudio Ranieri on Monday after only 112 days in charge following a nine-game run without a win.
A 3-0 defeat at home to relegation rivals Norwich on Friday result in Watford dropping into the Premier League bottom three for the first time this season.
Ex-England boss Hodgson has worked with the Pozzo family before during a short stint with Udinese in 2001, which ended with his dismissal after 17 matches.
However, the 74-year-old has always retained good relations with the Italian owners and is set to sign a deal for the remainder of the season with the option to extend the terms beyond the current campaign if survival is secured.
Watford are 19th in the table with 14 points from 20 games and two points from safety having already dismissed Xisco Munoz in October.
Hodgson stepped away from his role as Crystal Palace boss in May after four seasons in charge of his boyhood club -- with 11th, 12th and back-to-back 14th-place finishes in the top flight.
Upon announcing his departure from Selhurst Park, the former Liverpool manager was eager to play down talk of retirement.
"It is a dangerous thing to start making bold statements about retirement and this is the end of me," Hodgson said at the time.
In December, Hodgson hinted further he could be back in the dugout soon after he was recognised at the Sports Journalists' Association British Sports Awards.
"Uou can always hope there will be some jobs along the way that people will invite you to participate in, so you don't have to get the slippers and the pipe out every single day," he said.
Hodgson is expected to take trusty assistant Ray Lewington, an ex-Hornets manager, with him to Vicarage Road.
Ranieri has had a varied management career with Watford -- where he was in charge for just 13 top-flight games -- the fourth Premier League club he has managed.
The 70-year-old spent time in charge of Chelsea and Fulham, but is best known for his incredible job at the Leicester helm in the championship winning 2015-16 campaign.
Australian Associated Press