Gianfranco Zola will become the manager of Watford, according to new club owner Giampaolo Pozzo.
Pozzo, owner of Serie A side Udinese and Primera Liga outfit Granada, completed the takeover of the Championship club last week from Laurence Bassini.
"The Watford deal was conducted by my son (Gino), who works a lot in London," Pozzo told Sky Italia.
"We are trying to revive a historic club and to bring it back to the Premier League.
"Zola? We are on the right path and hence, I believe he will be our new coach. We have a verbal agreement.
"The English coaches are different to that of the Italians in terms of managing.
"Before deciding on the coach we needed time.
"My son will be in London as well tomorrow and there should be no problem."
Zola has been out of work since being dismissed by West Ham in May 2010.
The Italian tactician would replace current Watford manager Sean Dyche.