Rafa Benitez will leave Newcastle on June 30 after the club announced that they have failed to agree a new contract with their current manager.
The former Liverpool boss has been in talks with the St James’ Park outfit for months regarding a fresh deal but no breakthrough has been forthcoming.
He leaves having spent three full seasons with the club in which he oversaw their promotion back to the Premier League and re-established them as a top-flight club.
The Magpies had hoped to come to an agreement with their manager before his contract had expired, but it is believed Benitez failed to agree fresh terms with owner Mike Ashley.
The 59-year-old has been linked with a move to manage Chinese Super League side Dalian Yifang, while Newcastle have been linked with a host of names for their new boss, with the favourite believed to be Garry Monk, who was sacked by Birmingham earlier this month.