Benitez is entering the final year of his contract at St James' Park and fans will be fearful of losing a manager with a wealth of experience that includes a Champions League win.
What will worry Newcastle fans most is that the Chronicle's report that Benitez has a £6m release clause in his contract - not a huge sum to many Premier League sides - and a contract offer where Benitez is given greater control over transfers may tempt him away.
There has been some forward planning by Benitez in terms of summer acquisitions but there seems to be no certainty over the 57-year-old's future at the club.
Benitez has become well loved at Newcastle after building a hard working team that fans have been crying out for. Although there have been reports of tension with the board over signings, most fans want to see the former Liverpool boss continue as manager of the club.
Despite this, there has reportedly been no contact between the manager and Mike Ashley over a new deal, with the board looking to wait and see where the club stands at the end of the season.
The Magpies currently sit 13th in the Premier League but remain just four points from the bottom three, meaning the threat of relegation is still looming.
Whether they remain in the league or not, fans will hope that Benitez stays at the helm but with Ashley in charge you never know what could happen next at St James' Park.