It is expected that the contract will be signed in the coming days, and the annual salary is 45-year-old Portuguese will be 4 million euros.
Not in terms of trying to persuade Rafa Benitez to stay of course, instead he has his PR minions furiously preparing the ground for when/if the manager leaves.
Newcastle United have some serious momentum heading into next season, with the club's tenth-placed finish in the Premier League bringing levels of jubilance to Tyneside that have not been seen in years.
If reports are to be believed he's now on the cusp of returning to the Premier League with West Ham, who finished their most recent campaign in 13th.
It is also understood that other clubs, both at home and overseas, have expressed an interest in his services, but nobody has made an official approach yet.
We saw the obviously pre-planned statement that was released straight after the victory over Chelsea, once again offering "every penny".
It was, after all, a successful season to an extent for Newcastle United by finishing in tenth position in the table and one where decent ambitious plans for the future could and should be drafted up when you take into context the amount of extra money that will be finding its way into the companies bank account.
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'Then the assembly was essential to persuade me to remain.
He mentioned: 'After I had the assembly with Mike Ashley (in Might, 2017) I used to be assured that we now have the cash obtainable and the wages.
Whether Rafa will walk or not is obviously the 64 dollar question, which is no doubt also close to the transfer pot Benitez has been offered...
It looks obvious that both Mike Ashley's people AND Rafa's, have been using the West Ham circus to push their own agendas, feeding the media messages from "sources".
His representatives have been in talks with managing director Lee Charnley, acting on behalf of Ashley for several weeks, but little progress has been made.
Former Newcastle boss Kevin Keegan successfully claimed for constructive dismissal after he quit the club in 2008 when a tribunal ruled that, as manager, he had the right to the final say on transfers.