Personally I think it is fantastic news, I believe that as long as Rafa Benitez is in charge of Liverpool, they will never win the Premier League title.
There is no doubting that Rafa Benitez is one of the best managers when it comes to European football but over a season of 38 matches, I don't think he is good enough, which is great news for Man United and Chelsea.
It does mean that we will get to see a lot more rivalry between Sir Alex Ferguson and Rafa Benitez.
Liverpool supporters are happy he signed, Man United supporters are happy he signed and the Arsenal and Chelsea supporters I have spoken to are also happy he has signed a new contract because they also believe that they won't win the Premier League title under Benitez.
Good news all round isn't it?