Rafa Benítez returns to management with Panathinaikos in record-breaking deal

Rafa Benítez is back in business — and this time, he’s heading to Greece. The 65-year-old Spaniard has been officially unveiled as the new head coach of Panathinaikos, marking the 17th managerial job of an illustrious career that has taken him across Europe’s top leagues.

The Athens-based club, one of Greece’s most historic institutions, announced Benítez’s arrival with great fanfare, describing him as “the most successful coach ever to arrive at a Greek team.” The move is being hailed as the start of a new era for the Greens, who have struggled to recapture their former glory in recent years.

A New Challenge in Athens

Benítez, who has signed a contract until 2027, is reportedly set to earn a record-breaking salary for the Greek Super League, with figures varying between £3.47 million (€5 million) per year depending on the source. It makes him the highest-paid coach in the league’s history — a testament to his standing in the game and the faith Panathinaikos have placed in him to turn their fortunes around.

The club currently sit seventh in the 14-team table, eight points behind leaders PAOK but with a game in hand. The task awaiting Benítez is monumental: Panathinaikos have not won the domestic title since 2009–10, when a certain Djibril Cissé was firing in goals in green and white.

The Beginning of a New Era

In a statement that could easily pass for a love letter, Panathinaikos announced that the countless titles he has won in his long career — including the Champions League, two UEFA Cup/Europa League titles, and a Club World Cup — demonstrate the reach and stature of the Spanish coach.

The Madrid-born manager wasted no time, arriving in Athens at midday and immediately taking charge of his first training session. His familiar coaching staff — Paco de Miguel, Joaquín Valerio, Antonio Gómez, and Jesús García Vallejo — have all joined him in Greece.

Benítez is expected to make his debut against Asteras Tripolis at Leoforos, the club’s historic home ground, where anticipation is already at fever pitch.

A Legendary Career Continues

This appointment marks another fascinating stop in Benítez’s storied career. His managerial résumé now spans 17 clubs and includes some of the biggest names in world football — from Valencia, Liverpool, Inter Milan, and Real Madrid to Chelsea, Napoli, and Newcastle United.

His trophy cabinet speaks for itself:

• 2x LaLiga titles and 1x UEFA Cup with Valencia
• 1x Champions League and 1x FA Cup with Liverpool
• 1x FIFA Club World Cup with Inter Milan
• 1x Europa League with Chelsea

He was most recently in charge of Celta Vigo, where his tenure ended in March last year after a difficult spell that left the club hovering above the LaLiga relegation zone. Since then, Benítez has made no secret of his desire to return to management — ideally in England or Europe.

Speaking to The Telegraph last September, he said that being called a legend is nice but complicated, and that he does not want people to think he is finished. He emphasised that he is still evolving and wants to continue coaching at the highest level.

Now, in Athens, he has his wish — and perhaps one of the most fascinating projects of his career.

The Rafathinaikos Era Begins

For Panathinaikos supporters, the appointment feels symbolic. This is a club that once stood shoulder-to-shoulder with Europe’s elite, famously reaching the European Cup final in 1971, but has since endured years of decline and financial turbulence.

The arrival of a Champions League-winning manager with Benítez’s pedigree has reignited hope that the Greens can once again challenge their fiercest rivals, Olympiacos, who have dominated Greek football for over a decade.

Benítez’s challenge will be twofold: restore domestic pride and re-establish Panathinaikos as a name that carries weight on the European stage.

As one Athens newspaper put it simply, the Rafathinaikos era begins.

And in true Rafa fashion, you can bet there’ll be structure, spreadsheets, and a tactical masterplan already pinned to the dressing-room wall.