NEWCASTLE, England — Rafa Benitez looks set to lead Newcastle in the Premier League next season after being promised “every last penny” by the club’s owner following talks.

The former Liverpool and Real Madrid coach stayed with Newcastle despite its relegation to the League Championship last year, and has guided the team back into the Premier League at the first attempt as second-tier champions.

Benitez was unhappy at not being given funds to strengthen his squad in the January transfer window, fueling fears that he could walk away from the club.

Benitez met owner Mike Ashley and managing director Lee Charnley for talks on Tuesday, and said in a statement released by the club on Wednesday that he was “pleased with how the meeting went and the positive approach we are all taking together to build on what we have started this season.”

Ashley said Benitez can have “every last penny that the club generates through promotion, player sales and other means in order to build for next season.”

Benitez is one year into a three-year deal at Newcastle.