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Watford manager Quique Sanchez Flores will leave the club after their final match of the season on Sunday.
The Spaniard, 51, was appointed in June 2015 following the club's promotion to the Premier League.
The Hornets are 13th in the Premier League, but have won just two of their past 11 top-flight games.
"The club and me don't have the same point of view about the season," said Sanchez, who also guided Watford to the FA Cup semi-finals.
"We don't have the necessary conditions to activate the clause to renew my contract so I will leave Watford as a consequence.
"I felt completely happy with this year and I have enjoyed this experience."
Former Real Madrid and Valencia player Sanchez will leave after Sunderland visit Vicarage Road on Sunday.
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