Newcastle manager Rafa Benitez will meet with managing director Lee Charnley this week to discuss his budget for January, in talks which could decide whether the Spaniard is still at St James' Park next season.

Benitez and owner Mike Ashley have constantly been at loggerheads over budgetary matters, with Benitez bemoaning a lack of investment and Ashley feeling that his manager does not appreciate the financial situation at the club.

However, Ashley is aware that he will not find a better or more popular manager than Benitez and is determined to make him stay with promises of more ambition in the future.

Benitez has been subject to many broken promises since becoming Newcastle manager in 2016. At the start of last summer he was promised "every penny generated by the club", only for Newcastle to end the transfer window with a negative net spend.

The Telegraph reports that Benitez will demand guarantees from Ashley when he speaks with Charnley this week. Not until he hears how much he has to spend, and is satisfied that he will be able to spend it as he wishes, will he sign a new contract.

Ashley attended his first Newcastle match for almost 18 months as he was present for Saturday's goalless draw against Crystal Palace at Selhurst Park.

Benitez hopes this is a sign that Ashley is ready to re-engage with the club, having failed to find a buyer since putting Newcastle up for sale 12 months ago.

Newcastle's chief scout Steve Nickson, European scout Paul Baker and general scout Mick Tait will also be in attendance at this week's meeting.