Watford's new owners have confirmed the sacking of manager Sean Dyche in a statement issued on their official website.
Dyche, 41, only in the post for 12 months, guided Watford to an 11th-placed finish in the npower Championship last season.
But the Italian-based Pozzo family, who already own Serie A side Udinese and Spanish club Granada, completed their takeover of Watford from Laurence Bassin on Friday with countryman Gianfranco Zola expected to now take the helm from Dyche.
Giampaolo Pozzo told Sky Italia on Sunday that they had reached a verbal agreement with Zola, who has been out of work since being dismissed by West Ham in May 2010.
The statement read: "Watford football club confirms that it has terminated the contract of first-team manager Sean Dyche, with immediate effect.
"His achievements under difficult circumstances mean that he will rightly be held in high regard by Watford supporters. Everyone at the club extends their warmest wishes to Sean for the future."