The Hornets controversially sacked manager Nigel Pearson with two games to go at the end of last season, with Hayden Mullins subsequently unable to save them from the drop.
With the growing mess continuing with Pearson’s exit, the Pozo family have moved quickly to get their house in order ahead of the new Championship season.
Ivic is a free agent after leaving Israeli side Maccabi Tel Aviv last month and he is expected to sign a three-year deal at Vicarage Road next week.
The Serbian has established a good reputation, with two league titles in Tel Aviv, following a successful stint in charge of Greek club PAOK Salonika.
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