Speaking to the Official Club Website, Town boss Joe Royle explained his decision: "We have given Watford clearance to talk to Georges about them taking over the remainder of his contract.
"We have five central defenders at the Club and with young Aidan Collins and Gerard Nash pushing through as well, we have more than enough cover in that area of the pitch.
"It's a good chance for Georges to hold down a regular first-team place but the decision is his and if he decides to stay, he will be welcomed back into the squad and be in contention to play like everyone else here."