Dalglish leads search for Rafa Benitez’s successor

Mutual consent is one of those clichés bandied about by football clubs whenever they part company with a manager but in Rafael Benitez's case it rings true.

When Liverpool announced yesterday that Benitez had left the club by "mutual consent" there was relief all round. The 50-year-old Spaniard knew he was on borrowed time after Liverpool finished seventh in the Premier League last season and failed to impress in either the Champions League or Europa League.

But Benitez has been hamstrung for much of the past two seasons by the financial turmoil in which Liverpool finds itself. With debts exceeding £350m there was little money available to invest in new players and Benitez will leave the club claiming he did the best he could in the circumstances.

And while Benitez is being linked with the vacant coaching role at Inter Milan, the future at Anfield seems less certain. With Liverpool mired in financial strife (the club was put up for sale in April for between £400-600m) whoever succeeds Benitez won't have much cash with which to rebuild the squad, and Liverpool chairman Martin Broughton has warned it might take as long as three years to get the club back on an even keel. According to the BBC, Liverpool have a transfer budget this summer of around £15m, though that figure would increase substantially if the Reds were to sell Steven Gerrard and Spanish striker Fernando Torres.

Nevertheless, the appeal of managing such a prestigious club as Liverpool would probably be enough to lure most coaches to Anfield. Names being mentioned at this early stage include Fulham's Roy Hodgson, Aston Villa boss Martin O'Neill and former Manchester City manager Mark Hughes.

The man charged with bringing some semblance of order to Merseyside is former Liverpool legend Kenny Dalglish – "King Kenny" to the Kop. A success both as a player and a manager, Dalglish has been asked to lead the search for Benitez's successor, although many papers suggest this morning that the 59-year-old Scot might take on the role himself, at least in the short term.  

As for Benitez his six years at Anfield will be defined by that extraordinary May evening in 2005 when he guided Liverpool to Champions League glory against AC Milan. The FA Cup followed the next season but the Premier League title proved beyond his grasp, and instead Liverpool fans watched in dismay as Manchester United and Chelsea established themselves as England's elite.

"I'll always keep in my heart the good times I've had here, the strong and loyal support of the fans in the tough times and the love from Liverpool," said Benitez, whose severance package is believed to be in excess of £4m.

"I have no words to thank you enough for all these years and I am very proud to say that I was your manager. Thank you so much once more and always remember: You'll never walk alone." ·