Paulo Fonseca to reject West Ham, sign new Shakhtar Donetsk deal

David Gold the joint West Ham Chairman celebrates his team's 5-1 victory with the travelling fans The Emirates FA Cup fifth round match between Blackburn Rovers and West Ham United

The post comes after the Hammers had been linked with Newcastle United manager Rafa Benitez in what would seemingly be, by all accounts, a much more popular appointment than the former Leicester City manager.

According to the Daily Mail, sources close to Mike Ashley claim that he will hand Rafael Benitez a £50 million transfer budget at Newcastle United this summer.

The 58-year-old has a £6million release clause in his contract.

The Portuguese held talks with West Ham over the managerial vacancy at the London Stadium but has opted to stay with the Ukrainian champions. It is expected that soon the agreement, the Pitmen will be announced officially.

He said: "He wouldn't want to jump from the frying pan straight into the fire, where he's going into a club where the owners are controlling things and not giving him the tools to do the job probably. We are preparing to appoint a manager who has a proven record of success at the highest level of the game", Sullivan said.

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Other clubs have reportedly expressed an interest in his services but anyone who wants to employ Benitez will have to pay £6m in compensation to the Magpies. He mentioned that he would give us each final penny so hopefully he'll do it and I am assured that he'll.

'I could go away and make some money.

Ashley has again pledged to give Benitez "every last penny the club generates" after he guided them to a 10th-placed finish, with the owner insisting he would reject any approach for the manager.

Benitez has become a fan favourite on Tyneside and has also won admirers elsewhere.

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