With his current deal on course to expire at the end of next season, Liverpool and Rafa Benitez have finally agreed upon and signed a new 5 year deal that will see the Spaniard through the end of the 2014 campaign after rejecting the club’s initial offer due to “lack of total control in the Transfer Market.”

Via Gaurdian 

“My heart is with Liverpool Football Club, so I’m delighted to sign this new deal,” said Benítez. “I love the club, the fans and the city and with a club like this and supporters like this, I could never say no to staying. I always made clear I wanted to be here for a long time and when I complete my new contract it will mean I have spent over a decade in Liverpool.”

“Throughout this process, I would like to thank the owners for their hard work in finalising the deal. All of us at the club want the same thing, which is to be successful by winning major trophies.”

It is unknown if Benítez has been granted total control over transfer policy but the announcement earlier this month that Rick Parry, the club’s chief executive, is to leave in the summer suggests that is the case. The pair have maintained a difficult relationship for some time with Benítez regarding Parry as a major hindrance to Liverpool’s pursuit of players.

“It is wonderful news that Rafa has made a long-term commitment to the football club,” said Liverpool Co - Owner Tom Hicks. “Since he became manager in 2004, he has been responsible for the great progress we have made. I know he will continue to build on his achievements as he has a tremendous hunger and desire to bring more success to the club - success our fans and everyone connected with the club deserves.”

The Merseysider’s other owner, George Gillet, added: “With Rafa continuing to manage the team, we can look forward to more great football and success on the pitch. He has special abilities and qualities which are admired here at the club and around the world. Coming after our excellent wins over Real Madrid and Manchester United, this gives us great momentum going into the final stages of the season.”

Image via LaughFC