The tycoon, 70 - voted Italian football's best chairman in 2008 - has held extensive talks with Hornets' officials, says The Sun.
The Pozzo family also have interests in Spanish football.
Tribal Football Staff are dedicated to the football tribes from all over the world. Our team is passionate about delivering football news to our hundreds of thousands of followers in all the corners of the globe. Football is life, It never stops, Neither do we.