The owners of Italian Serie A club Udinese have agreed a takeover of Watford, the Championship club said in a statement. Italian businessman Giampaolo Pozzo has owned Udinese since 1986 and his family bought Spanish team Granada three years ago.

"The board of directors, acting on behalf of Watford Football Club, is pleased to confirm that agreement has been reached in principle for the transfer of ownership to the Pozzo family," a statement on the club's official website announced.

"Representatives from the family have been in discussions with Watford Football Club and both parties have agreed initial terms."

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