Benitez once again guided Newcastle United to a mid-table finish in the Premier League last season, but he did so with his future unclear.
The Spaniard's contract expired at the end of June, and whilst it looked like there would be hope that he could stay, he ended up walking away from the Magpies.
Off to China he went, joining Dalian Yifang just days after his Newcastle deal ended, and he's had a patchy spell in the Far East so far.
It's now claimed that West Ham would like Benitez if they part ways with Manuel Pellegrini, whilst Arsenal are also keen with 'admirers' on the Gunners board.
However, Dalian Yifang protected themselves from this kind of situation, and allegedly put a £20million buyout clause into Benitez's contract.
That rules out both Arsenal and West Ham from the running, as that would be a world-record payout for a manager, with neither really in a position to pay that kind of money.
With two years left to run on his deal, it seems unlikely we'll see Benitez back in the Premier League any time soon, and he's another name to cross off the list of potential Arsenal managers.
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