Thu Jun 16, 2011 7:56 am
MALKY MACKAY will resign as manager of Watford to join Championship rivals Cardiff.
The Welsh club have seen an official approach - and offer of compensation - rejected by the Hornets.
But Mackay is determined to move and will quit the club to succeed Dave Jones.
Talks with England legend Alan Shearer collapsed and Cardiff - who have also interviewed Chris Hughton - want to appoint Mackay within the next 48 hours.
Watford's new owner Laurence Bassini said: "I rejected the approach and hope our fans understand that I now need to consult our chairman Graham Taylor and the board of directors."
But Watford are a club in turmoil after the resignation of chief executive Julian Winter while stars Danny Graham and Will Buckley have been sold.
Even though Cardiff were willing to pay Watford for their manager, the offer was snubbed.
Mackay, 39, guided Watford to 14th place in the Championship last season despite having the second-smallest budget in the division and has built a reputation for playing good football. It is likely the former Celtic and Norwich defender will be given another low amount to work with and he is now ready to walk away.
Shearer, in a statement, said: "I was most impressed with the vision, ambition and determination of the owner Dato Chan Tien Ghee and the board.
"Unfortunately those talks were unsuccessful on this occasion.
"Cardiff City is a great club and I wish them every success next season."