The Hornets have submitted a £1.2m bid for Real Betis’ versatile player Juanfran, the Watford Observer understands.
Not to be confused with the Atletico Madrid defender of the same name, Juanfran is a right-sided player who can play at full back, midfield or further forward.
Watford have submitted a bid of 1.5m euros for the Spaniard, who turns 26 in 11 days, and if accepted, will hope to conclude the deal before Monday’s transfer deadline.
Andalusian publication Estadio Deportivo have also reported on the potential move and claim it is very close to being completed and that he has been offered a four-year contract.
Estadio Deportivo claim Juanfran has previously turned down the chance to join his old Real Madrid coach Aitor Karanka at Middlesbrough.
Juanfran started his career at Getafe and made appearances in La Liga and the UEFA Cup before joining Villarreal B for a season.
He earned a move to Real Madrid B and impressed enough to be handed a debut for the full side in May 2010, when he was an 84th-minute substitute for Fernando Gago during the 3-2 victory over Osasuna.
He was given an additional 21 minutes during the 2-0 defeat against Levante in the Copa del Rey the following January.
Juanfran was a regular for Real Madrid B in the Spanish second division prior to joining Real Betis on a free transfer in the summer of 2013.
He made 48 appearances for Betis last season in La Liga, Europa League and the Copa del Rey but they finished bottom in their domestic campaign and were relegated. Juanfran has not featured for Betis so far this season.