Rafael Benitez set to secure 17th managerial job and become highest-paid head coach in new league's history after 19 month hiatus

Benitez’s long wait for a return to the dugout appears to be over, with reports from Greece and the Netherlands confirming that he has agreed to take charge of Panathinaikos on a two-year deal. The Greek giants currently sit seventh in the Super League Greece table, eight points adrift of leaders PAOK but with a game in hand. Dutch outlet De Telegraaf revealed that the contract, worth £3.47 million per year, makes Benitez the highest-paid coach in the country’s history.

The deal was reportedly finalised following negotiations in London with club president Giannis Alafouzos. Benitez has asked for his tenure not to begin immediately as he arranges his relocation to Athens, meaning he will not be on the bench for their upcoming Europa League clash against Feyenoord. Feyenoord boss Robin van Persie even admitted his relief at not having to face the Spanish tactician so soon.

Benitez’s arrival is expected to inject experience and prestige into a club that has not won the Greek title since 2010. Having last managed Celta Vigo — where he won just five of 28 matches — the veteran coach will be hoping to restore his reputation in a league he has never worked in before.

 For Benitez, this latest appointment extends a remarkable managerial journey that spans nearly four decades and several continents. Since beginning his career at Real Madrid’s youth academy in the mid-1980s, he has managed some of the biggest clubs in world football, from Liverpool and Chelsea to Napoli and Real themselves.

At 65, the Spaniard now faces a very different challenge — transforming a Panathinaikos side struggling for consistency into genuine title contenders. His reputation for structure and discipline could bring stability to a club desperate for a return to the European spotlight. The move also reflects the growing appeal of the Greek Super League to seasoned coaches looking to rejuvenate their careers. With clubs like Olympiacos and PAOK enjoying improved European visibility, Benitez’s appointment further cements Greece’s rise as an attractive managerial destination.

Benitez’s career is one of the most decorated among modern managers. He first rose to prominence with Valencia, winning two La Liga titles and the UEFA Cup before moving to Liverpool in 2004, where he famously masterminded the club’s miraculous Champions League triumph in Istanbul. His six-year spell at Anfield also brought an FA Cup and UEFA Super Cup, cementing his status among Europe’s elite.

After leaving Liverpool, Benitez’s globe-trotting career saw him win the FIFA Club World Cup with Inter Milan, the Europa League with Chelsea, and domestic silverware with Napoli. His brief stints with Real Madrid, Everton, and Newcastle United highlighted his adaptability across contrasting football cultures. Few managers can match his record of winning major trophies in Spain, England, and Italy — and now he looks set to expand his legacy in Greece.

Despite enduring difficult spells at Everton and Celta Vigo, Benitez remains one of football’s most respected tacticians. His structured approach, emphasis on defensive organisation, and eye for tactical nuance continue to define his managerial identity. With Panathinaikos, he will have a fresh opportunity to reassert those principles in a new environment.

Benitez’s appointment is expected to be made official later this week, once final contract details and work formalities are completed. While he will not oversee the team in their upcoming Europa League trip to Feyenoord later on Thursday, his debut on the touchline could come against Asteras Tripolis in the Super League. The Spaniard’s immediate task will be to close the gap to the top of the table and stabilise a side that has struggled for rhythm this season.

Longer term, the focus will be on restoring Panathinaikos to domestic dominance and European relevance. With a proven track record of turning underperforming teams into disciplined units, Benitez’s arrival could mark the start of a new era for the Athens giants.