Reports: Benitez to take over at Newcastle United before Leicester match

AP Photo/Salvatore Laporta

Several outlets are reporting that Newcastle United is formalizing a deal to bring in Rafa Benitez as its next manager.

The Magpies have yet to fire Steve McClaren, who continues to oversee training ahead of the relegation-threatened side’s trip to Leicester City on Monday.

[ MORE: McClaren will not step down from 19th place NUFC ]

Benitez would take over for the rest of this season, with a major bonus for pulling the Magpies out of the drop zone and a long-term deal if he keeps the team up.

The 55-year-old Spaniard was unceremoniously sacked by Real Madrid in early January after just seven months in charge. He’s only won less than 40 percent of his league contests at one of his last seven gigs, and that was in a five-month campaign at Inter Milan.