Newcastle United owner Mike Ashley has reportedly decided to up his efforts to secure the long-term future of manager Rafael Benitez.

The Spaniard has less than six months remaining on his contract at St James' Park, and it appeared likely that the Magpies boss would leave in the summer should he not be backed in the January transfer market.

However, Ashley allowed Benitez to break the club's transfer record to sign Atlanta United's Miguel Almiron as well as bring in full-back Antonio Barreca on a loan deal from Monaco.

According to the Daily Mail, Ashley will now attempt to hold positive discussions with Benitez and offer a new three-year contract.

The report adds that Benitez is only likely to entertain penning fresh terms if he is provided with guarantees over future investment in the playing squad and training ground.

Newcastle finished in 10th place in the Premier League standings last season, but Benitez was left frustrated in the summer window and the North-East giants only sit in 14th position in the current table.