Rafael Benitez has signed a three-year contract extension with Newcastle United, despite the club’s relegation in the just concluded season.
The club said the Spanish will be armed with a large transfer budget in order to lead the club’s attempt to make an instant return to the Premier League.
Benitez failed to keep the Magpies up at the end of a ten-game stint as manager last season and had initially told the club he would not stay on if they went down.
UK Telegraph reports that the former Real Madrid and Liverpool manager had a change of heart earlier in the month, and indicated he would be willing to stay on if he received assurances from Mike Ashley, owner of the club.
The adulation he has received from the club’s supporters has played a huge part in persuading Benitez to drop down to the Championships for the first time in his career, but the fact there were also no other offers from Premier League clubs helped Newcastle keep him.
Benitez now has full control over recruitment as well as a large transfer kitty in order to take th club back to the Premier League.