Rafael Benítez takes charge of Panathinaikos for record salary in Greece

Rafael Benítez, the 65-year-old Spanish football manager, arrived in Athens to head Panathinaikos F.C. The Greek club announced his appointment as head coach on Oct. 24, and on Oct. 26 Benítez will make his debut in a home Super League game against Asteras.

The contract is signed for two years. According to De Telegraaf, the Spanish specialist will receive a record salary for the Greek league of €4 million (approximately $4.6 million) per year.

Panathinaikos had the coaching vacancy open after firing Rui Vitória in mid-September. The team currently sits in seventh place with nine points from six matches. PAOK (17 points), Olympiacos (16) and AEK Athens (16), which have played an extra match, are at the top of the table.

Benítez had been out of work for 19 months. In March 2024, he was dismissed from Celta after only five wins in 28 La Liga matches.

Panathinaikos is the 16th club in Benítez’s career. He led Liverpool for the longest period — from 2004 to 2010 — where he achieved his greatest success. On May 25, 2005, in Istanbul, Liverpool won the Champions League final against Milan on penalties after a stunning comeback from 0-3. That match is considered one of the greatest in football history.

His other international trophies include winning the UEFA Cup with Valencia CF (2004), the UEFA Europa League with Chelsea (2013), and the 2010 FIFA Club World Cup with Inter Milan. At the national level, Benítez guided Valencia to La Liga titles in 2002 and 2004. For his achievements with Valencia and Liverpool, he was named UEFA Manager of the Year in 2004 and 2005.

In recent years, Benítez has not had much to stand out with; nevertheless, shipowner Giannis Alafouzos, the owner of Panathinaikos, clearly believes in his talent — otherwise, he would not have paid such a salary. With a €4 million annual salary, Benítez would rank 34th among the highest-paid managers, according to Salary Leaks. For comparison, Simone Inzaghi earns €26 million ($30.2 million) per year at Saudi Arabia’s Al Hilal.