Last week, fellow owner George Gillett told the fans to place the blame for an inconsistent start to the season - which has seen three defeats in the Premier League and one in the Champions League - on the shoulders of the manager rather than criticise the owners for a lack of player investment.
Benitez, however, retains the total backing of Hicks. A source told the Sunday Mirror: "Rafa has Tom's full support.
"Losing two early games was disappointing but perhaps it was a wake-up call because the team then had six straight wins before losing at Chelsea, which is always a tough match.
"There is no panic because there seems to be a lot more balance in the Premier League this year. As for the stadium plan, there is a YouTube clip that proves George Gillett said a spade would be in the ground in 60 days, not Tom.
"In fairness to George that was the plan, but it was discovered two weeks later that the plans were seven years old and obsolete and when new designs and approval were completed. then came the credit meltdown.
"The plan now is to reduce bank debt and have a strong balance sheet to facilitate obtaining new stadium finance when the markets reopen in a year or two."