While recent reports suggest that the Hornets are set to tie up a permanent deal for the striker from parent club Udinese - with the Pozzo family owning both the Italian and English outfits - if Watford don't secure promotion Vydra could be sold again, says the Daily Express.
Vydra's agent Ondrej Chovanec last week said: "At the moment, five Premier League clubs are interested in Matej.
"We want Matej to stay with Watford at least until the summer. We are not planning any rush move for him."
That suggests that a summer switch to the Premier League should not be ruled out, with Tottenham, West Ham United and Southampton thought to be among the clubs interested in securing the diminutive forward's services.