11:30 AM
Happy new year 2012
Malky Mackay replaced Brendan Rodgers as Watford boss in June 2009 Cardiff City have had an official approach for Watford manager Malky Mackay rejected by the Hornets.
However, Hornets owner Laurence Bassini said he still has to consult the board.
"I rejected the approach and hope our fans understand that I now need to consult [chairman] Graham Taylor and the board of directors," he said.
Former Newcastle boss Alan Shearer revealed on Wednesday that he had held "unsuccessful" talks with Watford's Championship rivals Cardiff.
While Bassini was quick to reject Cardiff's initial approach, the further discussions to be held among the Watford hierarchy suggest that the matter is not closed.
"The need to discuss this matter with members of the board is paramount," Bassini added.
"We don't want Malky to leave Watford and we will do everything in our power to keep him at Vicarage Road.
"We should remember that Malky committed his future to Watford as recently as March, when he signed a new three-year contract."
Cardiff have been searching for a new manager since ending Dave Jones' six-year reign on 30 May.
Another former Newcastle manager, Chris Hughton, ex-West Brom boss Roberto Di Matteo, St Johnstone's Derek McInnes and ex-Barnsley boss Mark Robins have all been linked with the vacant Cardiff job.
Chief executive Gethin Jenkins and director Alan Whiteley have led Cardiff's search, while chairman Dato Chan Tien Ghee has arrived from Malaysia to complete the deal for Jones' replacement.
Watford chairman Graham Taylor has previously admitted that "Malky is linked with virtually every job that comes up" and the Hornets are well aware the former Scotland defender is in demand.
Mackay replaced Brendan Rodgers in the Vicarage Road hotseat in June 2009 after the current Swansea boss departed to Reading.
In his first managerial job Mackay has earned a reputation for playing competitive and attractive football on a modest budget.
The 39-year-old guided the Hornets to 14th in last season's Championship.
With less than two months to go until the start of the new Championship season - and fixtures announced on Friday, 17 June - Cardiff have recognised the need to appoint a new manager as quickly as possible and have moved for the man they want, much to Watford's chagrin.
Whoever takes over at the Cardiff City Stadium will face a hefty rebuilding process at the club, with 12 players having left including last season's top scorer Jay Bothroyd and fellow striker Michael Chopra.
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