Newcastle Next Manager Betting: Arteta the early favourite to replace Benitez

Newcastle boss Rafa Benitez
Rafa Benitez will leave Newcastle at the end of his contract and the search for a new manager has begun

Newcastle have today announced that Rafa Benitez will leave the club at the end of his contract and a search for a new manager will start immediately. Mike Norman has the details...

Next Permanent Newcastle Manager Betting:

- 5/1 Mikel Arteta
- 7/1 Jose Mourinho
- 7/1 Chris Hughton
- 10/1 Garry Monk
- 10/1 Eddie Howe
- 12/1 Steven Gerrard
- 14/1 Roy Keane
- 14/1 Gennaro Gattuso
- 20/1 BAR

*Sportsbook odds correct as of 13:30

Benitez will leave the club when his contract expires on 30 June after both parties failed to reach an agreement that would allow the Spaniard to continue in his role as manager at St James' Park.

Despite working to a tight budget Benitez defied the odds to guide the Magpies to two mid-table finishes in the Premier League in the last two seasons, but has decided to end his three-year reign at the club after failing to receive assurances for the next campaign; those assurances believed to be an increased transfer budget and more money put into the academy.

But with Newcastle owner Mike Ashley currently trying to sell the club Benitez's demands couldn't be met and a contract extension of just one year was tabled.

Not possible to reach an agreement

"We have worked hard to extend Rafa's contract over a significant period of time," said a Newcastle statement. "However, it has not been - and will not be - possible to reach an agreement with Rafa and his representatives."

Benitez's coaching staff, Paco de Míguel Moreno, Antonio Gomez Perez and Mikel Antia will also leave the club at the end of their contracts next week with the statement going on to say, "The process to appoint a successor will now begin."

Man City assistant favourite to take over

The Betfair Sportsbook has reacted quickly to today's news and a re-jig of the market has seen Manchester City assistant boss Mikel Arteta cut to 5/1 to take over at St James' Park.

Garry Monk had been the favourite in the Next Permanent Newcastle Manager market over the weekend, but he has drifted from 11/2 to 10/1 alongside Bournemouth's Eddie Howe.

Gary Monk clapping 1280.JPG

Jose Mourinho - who last week announced he is open to a return to football, possibly as a national team manager - is the 7/1 joint second favourite alongside Chris Hughton, who was sacked by Brighton at the end of the season.

We will have a more detailed look at the candidates for the Newcastle job on site shortly.

Next Permanent Newcastle Manager Betting:

- 5/1 Mikel Arteta
- 7/1 Jose Mourinho
- 7/1 Chris Hughton
- 10/1 Garry Monk
- 10/1 Eddie Howe
- 12/1 Steven Gerrard
- 14/1 Roy Keane
- 14/1 Gennaro Gattuso
- 20/1 BAR

*Sportsbook odds correct as of 13:30

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