Liverpool part company with manager Benitez
London: Liverpool parted company with Rafa Benitez by mutual consent on Thursday, ending the Spaniard`s roller-coaster, six-year reign as manager.
"Mr Benitez relinquishes his position as team manager after six years and the board of directors would like to place on record their grateful thanks for his services and wish him all the best in his future career," said a statement on the club website.
According to media reports the board signalled the 50-year-old`s departure by approving a payoff, said to be in the region of three million pounds (USD 4.42 million), despite the two parties agreeing a five-year contract in March 2009.
Benitez could have been entitled to a severance package of around 16 million pounds but Liverpool, burdened by debt, would have struggled to pay him off in full.