The Spaniard has done an impressive job during his first year in the Premier League and looks set to lead the Hornets to safety - they are currently 11 points clear of the bottom three with six games to go - which has prompted the Pozzo family to plan to reward the work that their manager has done with a lucrative new deal (via Mail).
However, they may have to get the new contract on the table in the very near future, as The Sun reports that Sanchez Flores is becoming concerned about the lack of progression regarding a new deal.
And with just a year left on his current contract and with an offer on the table from Spain (via The Sun), perhaps the longer it takes for contact to be made regarding an extension, the more likely it is that the 51-year-old will begin to think about where his future lies.
Given the job that Sanchez Flores has done with the club, it would surely be a shame if they were unable to agree a new deal.
While their current form has been shaky - with no wins in their last six league games - they look set to stay up, which would have surely been the objective this season, and have an FA Cup semi-final to look forward to.