Rafael Benitez 'on verge of Newcastle United exit'

Rafael Benitez will reportedly leave Newcastle United in a week when his contract at the club comes to an end.

The Spaniard has been in charge at St James' Park since March 2016, during which time he has won the Championship title and guided the Magpies to successive finishes of 10th and 13th in the Premier League.

Benitez has refused to pen new terms with the club amid its ongoing ownership uncertainty, however, as Mike Ashley continues negotiations with several parties over a £350m takeover.

According to the Daily Mail, there has been "minimal progress in discussions at the end of the season" and Benitez is now "resigned to the fact that his time at the club is over given the longstanding inability to agree on how best to approach in the transfer market".

The newspaper adds that talks over a new deal are unlikely to even take place this week, meaning that his contract will simply expire on Sunday.

The former Liverpool manager has been made a lucrative offer by Chinese side Dalian Yifang, but he is expected to spurn their advances and instead wait for a new job to come up with an English side.

Ex-Birmingham City boss Garry Monk is the current bookmakers' favourite to replace Benitez at Newcastle.