Exeter claim they have been contacted by Watford regarding the vacant managerial position at Vicarage Road.
City's sporting director Julian Tagg has revealed that the Championship club have expressed an interest in Grecians boss Paul Tisdale.
Regarding the Hornets' interest, Tagg told the Western Morning News: "There was a call. There was all sorts of stuff going on but what you would call official and what you wouldn't call official, you don't even know, what with agents and so on."
Tisdale has steered the Devon side to two promotions in as many years, and his record has made him a potential target this summer for clubs in higher divisions.
Swansea and Reading, who paid Watford compensation in order to take Brendan Rodgers from Vicarage Road to the Madejski Stadium, were also linked with moves for Tisdale.
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