The former Liverpool and Chelsea chief was parachuted into the Magpies’ dugout last month to replace the hapless Steve McClaren and tasked with keeping the North East club in the Premier League.
However, after just three games Benitez is still searching for his first win, with a draw with bitter rivals Sunderland and a loss away at fellow battlers Norwich having left his side six points from safety with just seven games remaining.
And reports already claim that the 2005 Champions League-winning coach is looking at his next move, with the potentially soon-to-be-available Spain job appealing to him.
Vicente Del Bosque is believed to be on the verge of stepping down after EURO 2016, and Benitez is one of the standout candidates being considered.
It’s understood that the 55-year-old would take the job regardless of whether Newcastle are in the top flight or the Championship for next season, with the prospect of a rebuild on Tyneside nowhere near as appealing.