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Former Leicester and Chelsea boss Claudio Ranieri 'has agreed' to take over at Watford, after Premier League winner emerged as a shock candidate following Xisco's sacking

Claudio Ranieri has agreed to become the new Watford boss after Xisco became the first Premier League manager to lose his job, according to a report.

The Italian is understood to be on the brink of taking reins at the Premier League club, Sky in Italy has said.

MailOnline revealed on Saturday that the Italian had emerged as a serious contender to take the reins at Vicarage Road and there is confidence behind the scenes that a deal for the 69-year-old is within reach.

Claudio Ranieri is set to replace Xisco Munoz as Watford manager, reports in Italy have said
Ranieri (left) famously led Leicester to the Premier League title in the 2015-16 season

Watford have sacked head coach Xisco Munoz after just seven games of the new season

It comes just six months after he guided them to Premier League promotion in his first season

WATFORD NEXT MANAGER ODDS

Claudio Ranieri - 1/5

Diego Martinez - 7/2

Paulo Fonseca - 16/1

Eddie Howe - 18/1

Frank Lampard - 18/1

Odds courtesy of Sky Bet

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One Hornets source said the move to recruit Ranieri was effectively 'done' yesterday, with indications that the contract would be until the end of next season.