Rafael Benitez: Newcastle manager offered £12m by Chinese club Dalian Yifang

Rafael Benitez is out of contract at Newcastle at the end of June

Newcastle boss Rafael Benitez has received a £12m-a-year offer to take over as manager at Chinese Super League club Dalian Yifang.

Benitez, 59, is out of contract at the end of June but has been offered a new deal by Newcastle owner Mike Ashley.

So far he has been unable to agree a deal and it is becoming increasingly likely Benitez will leave St James' Park after just over three seasons.

The Spaniard is also linked with a move to succeed Maurizio Sarri at Chelsea.

Benitez remains one of the favourites to replace Sarri but Frank Lampard is the overwhelming favourite for the job.

Benitez had an an uneasy relationship with the Chelsea fans when he was in interim charge of the club during the 2012-13 season.

There is a chance Benitez may decide not to go to China and wait for another offer - from Newcastle or elsewhere.

However, the lure of China may be too much given the vast sums on offer.

Dalian have won only three of their 13 league games so far this season under South Korean coach Choi Kang-hee.

Newcastle were relegated after Benitez arrived at the club in March 2016 but the former Liverpool boss guided them to promotion as Championship winners the following season.

The Magpies have finished 10th and 13th in the Premier League in subsequent seasons.