Rafa Benitez has left Newcastle United - the Magpies have announced.

The Spaniard will not continue as boss next season, when his contract expires on June 30.

Benitez has walked away from a £6m one year extension, and a transfer budget of £50m a season, after losing patience with owner Mike Ashley.

He led Newcastle back to the Premier League during his three seasons in charge, and established the club solidly in mid-table for the past two years.

Newcastle said in a statement today: “We have worked hard to extend Rafa's contract over a significant period of time, however it has not been - and will not be - possible to reach an agreement with Rafa and his representatives.

“Rafa's coaching staff, Paco de Míguel Moreno, Antonio Gómez Pérez and Mikel Antia, will also leave the club on 30th June.

“We would like to thank Rafa and his coaching team for their efforts over the last three years and their significant contribution to what has been collectively achieved.

“We would also like to thank our supporters, players and staff for their patience during a period of uncertainty.

“The process to appoint a successor will now begin."