Rafa Benitez is set to return to management at Panathinaikos with the Champions League winner becoming the highest paid boss in Greek history.

The ex-Liverpool and Chelsea boss has been out of work for more than a year following his sacking from Celta Vigo in March of last year. He left the Spanish club two points above the relegation zone but has now been handed his 17th job as a manager.

Reports in Greece claim Benitez is due to pen a two-year deal in Athens. The Greek giants currently sit seventh in the 14-team Super League Greece having picked up nine points from six matches. It leaves them eight points adrift of league leaders PAOK but with a game in hand.

Dutch outlet De Telegraaf claims the record-breaking £3.47million contract comes after negotiations in London on Sunday evening with their club president Giannis Alafouzos. Panathinaikos are without a league success since 2010 and have only claimed the title twice this century.

Benitez has requested that his new tenure be put on hold as he sorts his move to Athens, meaning he won't be on the bench for their Europa League encounter at Feyenoord on Thursday afternoon.

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When Benitez does arrive he will work with the likes of former Manchester United winger Facundo Pellistri and Golden Boy winner Renato Sanches, who is on loan from PSG.

The Spanish manager has not claimed a major honour since winning the Coppa Italia with Napoli in 2014. Prior to that he earned earned an impressive reputation, first making a name for himself when he won La Liga twice with Valencia as well as the UEFA Cup.

He moved to Liverpool and masterminded the Miracle of Istanbul as the Reds downed AC Milan on penalties to win the European Cup in 2005. He's also had time in charge of Inter Milan and Chelsea, where he won the Europa League.

Benitez had a forgettable stint at Real Madrid, which lasted just a few months, but was then appointed at Newcastle. He oversaw their return to the Premier League and helped stabilise them in the top flight despite a notable lack of investment. He's since had a role in China and a spell at Everton, which was short-lived.

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