Benitez has just months left on his contract at Newcastle, with his current deal set to expire at the end of the season.
With Newcastle failing to provide him with the funds that he has wanted to invest in the squad, it is widely expected that Benitez will leave unless a compromise can be met.
Benitez will now meet with Lee Charnley in the coming days to try and discuss a potential agreement.
Ashley is said to be keen to tie down Benitez for the long-term, despite the pair having their differences.
The Telegraph claim that Ashley feels that Benitez has not shown enough appreciation for the financial situation with the Magpies.
But Benitez has always been clear with his demands, that he wants the funds available which would enable Newcastle to compete for trophies.
Newcastle have still not set Benitez’s budget for the January transfer window, and the amount of funds that are made available could have a big impact on Benitez’s decision over whether to stay on Tyneside or not.
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