The Pozzo family completed the takeover of the Championship side last Friday, and appear set to replace current boss Sean Dyce with the former West Ham manager.
Italian Pozzo, who also owns Serie A side Udinese and La Liga side Granada, told the media in his homeland that he believes Zola, who has been out of work since 2010, is the right man to bring success to Watford.
"The Watford deal was conducted by my son [Gino], who works a lot in London," Pozzo told Sky Italia.
"We are trying to revive a historic club and to bring it back to the Premier League. Zola? We are on the right path and hence, I believe he will be our new coach. We have a verbal agreement.
"The English coaches are different to that of the Italians in terms of managing. Before deciding on the coach we needed time. My son will be in London as well tomorrow and there should be no problem."