Newcastle have announced that they will part ways with Rafa Benitez when his contract expires at the end of this month.

The former Liverpool manager had been locked in talks with the Magpies over a new deal but new terms could not be agreed.

Benitez guided Newcastle to promotion from the Championship at the end of the 2016/17 season before sealing back to back midtable finishes.

However, uncertainty over the future owners as well as reported disagreements over the transfer budget with chairman Mike Ashley, led to the decision to end his reign at the North East club.

Some reports suggest that Benitez could be off to China to work for Super League side Dalian Yifang. The Spaniard could earn £12million a year after tax in the Far East.

Despite a varied career which has seen him work in Spain, Italy and England, the Champions League winner has never worked outside Europe.