Last update this afternoon from As (who broke the news this morning that it was nearly done) is that talks are still ongoing, and that the holdup is that apparently Benítez demands significant transfer investment since his aim is to transform NUFC into a PL top team again.
Note that Balagué writes for As, so I give them some credit when reporting about Benítez.
I'm assuming that we would know that Benitez is going to come at a significant cost due to his pedigree. If we've entered into significant talks with him it must be in the knowledge that we are going to have to compete at the top level and invest accordingly. To be fair, we are probably one of a handful of clubs in the Premier who can do that.
Rafa is bringing the horse to the cart. Shame the cart has no wheels right now