"I want to stay here for a long time. Clearly I would like to be here when the new stadium opens. The other day I was joking that if they offered me a 20-year contract I'd be really pleased."
Benitez has not always seen to eye to eye with Liverpool's American owners over the club's transfer policy but they appear to have patched up their differences in recent months.
Matters came to a head in the summer after the board baulked at Aston Villa's £18m asking price for midfielder Gareth Barry, a player Benitez was keen to add to his squad.
However, they did sanction a £20.3m move for striker Robbie Keane and the previous summer they paid an undisclosed club record fee for Spain forward Fernando Torres from Atletico Madrid.
The fractious relationship had resulted in Benitez being linked with moves to Italy, or back to his native Spain with Real Madrid.
BENITEZ AT LIVERPOOL
Jun 2004: Leaves Valencia to take over at Anfield
May 2005: Wins Champions League with dramatic win over AC Milan on penalties
May 2006: Liverpool win the FA Cup after another win on penalties over West Ham
Jun 2006: Agrees new four-year deal with Liverpool
May 2007: Milan exact revenge by beating Liverpool in the Champions League final
Jul 2007: Signs Fernando Torres for an undisclosed club record fee
Despite the Reds finishing fifth in his first campaign at Anfield, Benitez won the Champions League after a dramatic penalty shoot-out against AC Milan and also guided the club to the final of the Carling Cup.
The following season Liverpool won the FA Cup and a year later they were back in the final of the Champions League but were defeated by Milan.
In a statement released on their behalf in November, Gillett and Hicks said: "Rafa continues to do a great job, we are really pleased with the progress of the team and we look forward to talking to him and his advisers about extending his contract."
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