Panathinaikos have appointed former Liverpool and Real Madrid manager Rafael Benitez, the Greek club said on Friday, with the 65-year-old Spaniard replacing Christos Kontis, who was sacked after Thursday's 3-1 Europa League defeat at Feyenoord.

Greek media reported Benitez had signed a two-year contract with the Athens-based club. Benitez was most recently at Celta Vigo, where he was dismissed in March last year after eight months in charge.

The deal includes an option to extend for an additional year and is worth around 4 million euros ($4.66 million) per season, which local media reported was the highest salary ever paid to a coach in the Greek top flight.

Benitez guided Liverpool to the 2005 Champions League title and led Chelsea to the 2013 Europa League crown, in addition to domest

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