Rafa Benitez will not walk away from Liverpool - at least until the end of their Champions League campaign.

The Guardian says reports Benitez was about to tender his resignation were quashed by sources close to the Liverpool manager who said he will remain in charge at least until this season's Champions League campaign is concluded.

However, the Spaniard is still upset with the increasingly strained relationship between the club's owners, Tom Hicks and George Gillett, and chief executive Rick Parry.

Benitez, who demanded a meeting with Parry, Hicks, Gillett and himself on Sunday, had to content himself with an exchange of emails with the Americans after accepting that coaxing warring owners no longer on speaking terms into the same room was unrealistic. It appears this electronic contact helped inform his decision to stay at Anfield, for now at least.