The world’s best paid managers after Steven Gerrard secures new mega contract and Jurgen Klopp announces he will quit

STEVEN GERRARD is the fourth best-paid manager in the world after securing a new contract at Al-Ettifaq.

The Liverpool legend has been working in Saudi Arabia since July.

Gerrard, 43, took the job after being sacked by Aston Villa and has had a tough start to life in the Middle East.

Al-Ettifaq are eighth in the Saudi Pro League after failing to win a match since October.

It had been thought that the Englishman's bad form could lead to his departure from the club.

Gerrard's position came more under threat after star signing Jordan Henderson left the club for Ajax last week.

However, the club has now shown its support for the manager by handing him a two-year contract extension that will run until 2027.

Gerrard's deal, worth £15.2million-a-year, sees him earn slightly less than current Liverpool manager Jurgen Klopp, who is paid £16m.

Klopp announced on Friday that he will be leaving the club at the end of this season.

In terms of the best-paid managers in the world, Gerrard ranks fourth.

After receiving the contract extension, the former Rangers boss said: "We knew at the beginning this was a big job and a challenging job.

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"We all know it's not going to be an overnight fix. But it's really exciting in terms of where we believe we can get the club to. 

"We want to build a special club and build an elite culture around the team and squad.

"I also understand my position, it's a results business. I never take that for granted.

"I understand where we are in the league, but I am very confident we will improve. There will need to be an element of patience as there is still a lot to do on and off the pitch."

Despite banking almost £300,000-a-week, Gerrard is still some way off being the best-paid manager in the world.

Diego Simeone tops the leaderboard with LaLiga outfit Atletico Madrid paying the Argentine £30m every year.

Manchester City boss Pep Guardiola is the second highest earning manager as he earns an annual salary of £20m.

Other Premier League bosses Erik ten Hag and Mikel Arteta are 9th and 11th on the list.

The Manchester United manager is paid £9m-a-year while the Arsenal boss earns £8.3m annually.