Javi Gracia says he was surprised by Watford's "unexpected" and "abrupt" decision to sack him on Saturday.
"After the unexpected announcement about the termination of my contract after only four matches, I want to express my surprise after competing the best season in Watford's history," Gracia said in a statement.
"I respect this decision and I'd like to reassure the excellent relationship I have with Gino Pozzo and Filippo Giradi, and it is not going to change despite my abrupt exit of the club.
"I am grateful to this club for allowing me to manage this great club in the Premier League, it has been an incredible experience, with very special moments like the FA Cup final I had the privilege to enjoy.
"I want to thank every single person who works for this club and has made my everyday very easy. My gratefullness and love for this club will be eternal.
"And finally, I want to thank the fans for supporting me the way they did from day one, until my last. I will always wish the fans and these players the best."
Gracia was less than a year into a four-and-a-half year contract at Vicarage Road. Watford also had the option to extend the deal by a further three years.