Quique Sanchez Flores is set to be appointed as Watford’s new boss after negotiations with Slavisa Jokanovic collapsed over his wage demands.

The Serbian’s deal with the Hornets expires at the end of this month and we reported last week that it was highly unlikely he would remain at Vicarage Road after talks over a new deal proved unsuccessful.

Sources close to the 46-year-old, who took charge in October and guided the Hornets to promotion to the Premier League, claimed reports that he was offered £1,000 a week extra on his current deal were correct. His current contract is believed to be worth around £400,000 a year.

However, the Watford Observer understood the Serbian was seeking a significant increase on the salary offered and also wanted a three-year contract.

Watford had hoped to reach an agreement but were not willing to match the demands, which would have seen Jokanovic earn more than £2 million a year.

It is now understood Watford offered Jokanovic a basic salary of £1 million, plus an additional £1m in performance-based payments, whereas the Serbian wanted £2.5 million in wages alone. This would have broken the pay structure at Vicarage Road and made Jokanovic more highly paid than other experienced top-flight managers.

A right-back who was capped 15 times for Spain, Flores began his playing career with Valencia and spent ten years at the club before leaving for Real Madrid in 1994.

The defender played for the Spanish giants for two seasons joining Real Zaragoza. He spent one year with the club and retired in 1997 at the age of 32.

Flores started his coaching career back at Real Madrid, working with the club’s youth sides for three years.

Given his first break with newly-promoted Getafe in 2004, Flores left for Valencia a year later and helped Los Che into the Champions League before leaving in 2006.

His next stop was Portuguese giants Benfica but again it was a short stay - despite lifting the Portuguese League Cup - and in 2009 he pitched up at Atletico Madrid.

Having won the Europa League against Fulham, European Super Cup and been beaten in the Copa Del Rey final, Flores left at the end of the 2010/11 campaign.

A 18-month stint with United Arab Emirates Pro-League side Al Ahli saw him win the Arabian Gulf Super Cup and Presiden't Cup prior to a swich to Al Ain.

Another President's Cup enhanced his CV before returning to Getafe after just six months with Al Ain. His second spell with Getafe ended in resignation on February 25.