Rafa Benitez set for exit as Liverpool FC board seek to agree pay-off

Rafa Benitez 300* VIEW a timeline of Rafa Benitez's reign at Anfield hereRAFA BENITEZ'S six-year reign as manager of Liverpool Football Club was all but over after the Anfield board met to discuss terms of his departure.The ECHO understands the Liverpool board tonight approved a deal which would see the Spaniard leave with a £3m pay-off.The move is effectively a vote of no confidence in Benitez and makes his position virtually untenable. Managing director Christian Purslow declined to comment and would only say he was 'locked down in a meeting'. Benitez was unavailable for comment.The Spaniard is only 15 months into a lucrative five-year contract at Anfield and if the club sack him he is entitled to a £16m pay-off.However, the club's dire finances - they recently posted record annual losses of £55m - are such that they are not in a position to be able to come up with that sort of money and are hoping a compromise can be swiftly reached which would see Benitez leave my 'mutual consent'.In theory Benitez could dig his heels in and remain at Anfield but that appears unlikely now it's been made clear his services are no longer required.A parting of the ways has looked increasingly likely after Liverpool suffered a miserable season.

Source: Liverpool_Echo