Rafa Benitez has been appointed head coach of Panathinaikos on a contract running until 2027, the Greek club said late Sunday, confirming the Spaniard’s return to management.
The 65-year-old former Liverpool, Chelsea and Real Madrid manager signed and sent his contract to the Athens side on Sunday night after talks in London with Panathinaikos president Giannis Alafouzos and sporting director Franco Baldini.
The deal includes an option to extend for one additional year and is worth about 4 million euros ($4.3 million) per season – reportedly the highest salary ever paid to a coach in Greek soccer.
Benitez, who left Celta Vigo in 2024, had asked for two days to finalize his decision before agreeing to take charge. He is expected to arrive in Athens later this week, when his appointment will be officially announced.
The Spaniard will not be on the bench for Thursday’s Europa League game against Dutch side Feyenoord, with interim coach Christos Kontis set to lead the team for the final time. Panathinaikos are considering keeping Kontis as part of Benitez’s technical staff.
Benitez had recently been linked with a move to Nottingham Forest – owned by Olympiakos president Evangelos Marinakis – after the Premier League club dismissed Ange Postecoglou on Saturday following a 3-0 loss to Chelsea, just 39 days into his tenure.
