The 32-year-old Swiss shot-stopper was an ever-present in the Premier League under new Hornets boss Marco Silva after the Portuguese head coach took over at the KCOM in January.
Silva instantly dropped summer signing David Marshall in favour of Jakupovic and it was no surprise to learn that he wanted him at Watford shortly after his appointment late last month.
Watford’s current number one Heurelho Gomes had a good season last term but is now 36 and the Hornets know they will have to find a long-term replacement soon.
It’s being reported that the Hornets have made a £1.7million bid for Jakupovic, but the Foxes have now also made a similar offer so it appears to be a straight choice between the two clubs.
While the Foxes were believed to be favourites, Silva will no doubt hope the fact he gave him regular game-time at Hull will persuade him to move to Vicarage Road instead of the King Power Stadium where Kasper Schmeichel holds the number one jersey.
Emre Can could have played his last game in a Liverpool shirt after boss Jurgen Klopp suggested a back injury has ended his season.
Tottenham are reported to be showing an interest in young Danish midfielder Mathias Jensen, who could be the next Christian Eriksen.
Ander Herrera did not deliberately spit on Manchester City's badge during Saturday's derby, sources close to the player have insisted.
Sergej Milinkovic-Savic has again cooled rumours over his future and says he is fully focused on finishing the season with Lazio.
James Ward-Prowse praised Southampton's spirit in the defeat to Arsenal and says it bodes well for the rest of the season.
Chelsea defender Antonio Rudiger says it is crucial the Blues finish the season strongly starting with the clash against Southampton.
Sam Allardyce says Wayne Rooney still has a future with Everton despite his furious reaction to being substituted against Liverpool.