Watford appoint Quique Sanchez Flores as manager

The Hornets had been in talks to extend the contract of Slavisa Jokanovic who had guided the club back up into the Premier League.

However, after those negotiations broke down over the salary demands of the Serbian, Watford moved to secure the services of Sanchez Flores.

The club made a formal announcement on Friday afternoon to confirm the Spaniard's appointment on a two-year deal.

"Watford FC is delighted to announce the appointment of Europa League winner Quique Flores as the club’s new Head Coach," the statement said.

"The Spaniard, who boasts a wealth of top-flight experience in his home country and Portugal, has signed a two-year contract to lead the Hornets upon their return to the Premier League.

"He will be assisted by Alberto Diaz and Antonio Carlavilla, alongside Dean Austin who will remain within the Vicarage Road coaching structure."

Sanchez Flores will bring an impressive CV to England, the 50-year-old having guided Atletico to the Europa League title in 2010, beating Fulham in the final, as well as coaching in Portugal at Benfica and more recently with Al Ain in the United Arab Emirates.

Jokanovic, the former Chelsea defender, had been appointed as Watford's fourth coach of the season in October, and would go on to guide the club back into the Premier League as runners-up to Bournemouth.

Watford were unable to reach an agreement over terms of a new deal, which would not only have broken the pay structure of the Vicarage Road club, but also pushed the Hornets out of line with the basic earnings of other more experienced managers in the top flight.

The Hertfordshire club have already made moves to strengthen the squad, with the free transfer signing of Austrian defender Sebastian Prodl and Lithuanian goalkeeper Giedrius Arlauskis.

Flores becomes the fifth Watford manager in the space of a year - with the tumultous events of summer last year seeing four managers come and go in the space of six weeks. But the big shame for the Hornets is that having found a man whose formula was working, they have chosen to look elsewhere rather than meet his demands.

Will they live to regret not paying Jokanovic what he wanted? For our money, probably not. Watford have a hugely talented squad that would almost certainly have been fighting for promotion regardless of who was at the helm - and in Flores, the newly-promoted side have persuaded a true heavy-hitter to come.

Indeed, the problem for Watford may not be how to fire Flores one day, but how to keep him: if he shines at Vicarage Road as he has done across Europe, he could end up with a stellar reputation that sees him brought in by whichever of the Premier League's big clubs hits the rocks next season.

He is a young coach (former Real Madrid and Valencia player, right-back defender) who had a lot of success with Valencia, Atletico and Getafe. His methods should suit the Premier League: he likes offensive football with a very combinative players. However, it is a surprise to see him take a job in England, particularly as the former club of Elton John. He should be a success though.