RAFAEL BENITEZ will have more than £80m to spend this summer after agreeing to remain as Newcastle United boss following positive discussions with Mike Ashley and Lee Charnley.

Benitez has moved quickly to remove any doubt over his future by committing himself to St James’ Park in the wake of this season’s promotion to the Premier League.

The Spaniard had been reluctant to spell out his future plans until he had an opportunity to sit down with Ashley to discuss his proposals for the forthcoming transfer window and his long-term ambitions for the Magpies.

Those talks took place on Tuesday, with a helicopter flying Benitez, Ashley and Charnley to a secret destination, and they convinced Benitez that Ashley is willing to provide significant financial support this summer.

Benitez is also understood to have secured guarantees about his authority when it comes to transfer matters, with Ashley happy to allow the former Champions League winner to work with Charnley to drive through his transfer plans.

“I’m pleased with how the meeting went, and the positive approach we are all taking together to build on what we have started this season,” said Benitez, who signed a three-year deal when he agreed to remain at Newcastle last summer.

“There will be challenges ahead of course, the summer will not be easy, but the hard work has been going on for some time and we can now continue positively with the development of the squad ahead of the start of the new season. I wish the fans an enjoyable summer!”

Benitez always insisted he would not go into this week’s talks with a set figure for a transfer budget, but despite this season’s success in the Championship, the Magpies manager is aware that the current squad will require significant strengthening if it is not to be involved in a relegation battle next season.

Sources close to the talks claim Ashley agreed about the need to reinforce the current group, and the sportswear magnate has promised Benitez he will be able to spend whatever additional revenue is generated in the wake of promotion.

A place in the Premier League is worth a guaranteed £100m in television income alone next season – a figure that represents an increase of around £60m on the sum Newcastle could have expected to receive in the Championship.

There are also likely to be departures this summer, and while the Magpies will not be able to generate the kind of sums that were raised last year when the likes of Moussa Sissoko and Georginio Wijnaldum departed, they could still add another £20-30m to the kitty through player sales.

“I’ve confirmed to Rafa and Lee that they can have every last penny that the club generates through promotion, player sales and other means in order to build for next season,” said Ashley, who attended his first home game of the season when Newcastle claimed the Championship title last weekend.

The role of chief scout Graham Carr is still be clarified, but it is clear that Benitez will have the final say over all transfer business this summer. There is likely to be a further meeting with Ashley to thrash out the finer details of Newcastle’s summer spending, but Benitez will have a relatively free hand when it comes to identifying and pursuing targets.

A Newcastle statement confirming tonight’s developments said: “Newcastle United can confirm that a meeting has taken place between the club’s owner, Mike Ashley, managing director, Lee Charnley, and manager Rafa Benitez.

“It was agreed by all parties that the meeting was very positive and constructive. Mike again congratulated Rafa and his team on gaining promotion to the Premier League as champions.

“Plans for next season were discussed, including the purchase and loan of players to add to the squad in readiness for the Premier League season.”