LIVERPOOL have been issued a "hands off" warning over Rafael Benitez as they step up their search for Gerard Houllier's replacement.
Valencia coach Benitez, (left), and Porto's Jose Mourinho are the Anfield board's favourites for the post, with the latter still undecided on his future despite strong interest from Chelsea in his services.
But Valencia president Jaime Orti has insisted Benitez will be remaining in Spain next season - despite suggestions the coach has a get-out clause in his contract which would allow him to leave without compensation at 15 days' written notice.
Orti said: "He will coach Valencia next season. I don't think these rumours about Liverpool have any substance.
"He has one more year left on his contract with Valencia and our intention is to extend our relationship with him even further."
Benitez is known to be unhappy with the financial restraints he has been forced to work under at Valencia, who he has guided to two championships in three seasons and a UEFA Cup triumph earlier this month.
Liverpool will wait to discover if Mourinho decides to accept the Chelsea job before speeding up the process of selecting a new manager, although they will be encouraged by news of Benitez's apparent loop-hole.
Alan Curbishley, the other name high on Liverpool's shortlist, retains support in the Anfield boardroom.
Rick Parry has said whoever comes in will be expected to build his team around Steven Gerrard as he allayed fears of the midfielder moving to Chelsea.
The 23-year-old has seen his stock rise considerably following a plaudit-laden season in which he almost singlehandedly dragged the Anfield side to fourth place in the Premiership and a return to the Champions League.
Gerrard has since said he would be disappointed if three of four world-class players are not brought into the club after an underachieving campaign which ultimately cost former manager Gerard Houllier his job.
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