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The Wobby mentioned something about Smithy earlier in their transfer embargo article - whether they're just picking up on rumours or not, I don't know. But it looks increasingly more unlikely he'll be at Loftus Road next season with their transfer dealings. Hoilett is a good signing for them!
!!! I WAS THERE WHEN DOYLEY SCORED!!!... the first time...
It's not a rumour, this one is very true, quite likely to be our first permanent signing under the pozzos
Is everything agreed? Could he be signed before almunia and hall?

I'm not sure of the exact details of the contract but the key idea of the move is that Tommy will finish his career here and to have the option to decide what he wants to do after that, whether that's moving into coaching or moving away from football.
I smell a lot of bull here
Watford til I die!
Current watford face:

Someone on twitter has said that a fee has been agreed, any truth?

Yes, fee is agreed around the £500k mark
Decision for Tommy to make now Re. wages vs. location
Which club is the wages option? I'm sure our wages wouldn't be too shabby even if it was a bit of a cut
no other firm offers have been made apparently, we are his only offer currently although leeds and cardiff have previously been suggested (i think both unlikely). however staying at qpr for the wages would be a difficult one.
So you reckon he's likely to stay at qpr?
Excellent hopefully he signs for us then!

I'd love to think that Smithy is a WFC player next campaign! Won't believe it until it happens though!
!!! I WAS THERE WHEN DOYLEY SCORED!!!... the first time...
This fee was agreed last Monday.
If you're suggesting that there are other offers on the table from clubs up north at this stage then that is not the case. He has already turned down moves from Leeds and has told his agent to make it clear that he is not interested in moves that would mean him and his family moving such as Cardiff who showed considerable interest at one stage.
The only decision for Tommy to make is to stay in the QPR reserves for the rest of his contract or move here on slightly lower wages. From what I understand Tommy has barely considered staying at QPR due to his poor relationship with Mark Hughes and the knowledge that if he did he would be spending the rest of his career not playing first team football.

If Tommy Smith returns to Watford FC and plays in the first team, i will eat my hat. Honestly.
If you're a sexy female, you'll find me down the front