It has been reported that Benitez has been given written assurances that he will have control over transfers and funds in the next two transfer windows.
“These assurances have been formalised in writing and Benitez – who started the season as Real Madrid manager – is understood to be ready to commit his future to the club,” states the report in The Shields Gazette.
It seems that Benitez has got the assurances he needed from the Newcastle hierarchy in order to carry on working at the club.
The Spaniard was appointed the Newcastle head coach in March following the departure of Steve McClaren.
Newcastle are one of the biggest clubs in England, and they will be one of the favourites to win automatic promotion from the Championship.
The Magpies need to start making moves for potential signings now, and they should try to get the squad sorted for pre-season.
Benitez knows English football inside out, and Newcastle fans should be optimistic of promotion under the former Liverpool and Chelsea manager.