Goalkeeper Willy Caballero has reportedly emerged as a potential transfer target for Newcastle United.
Last month, it was announced that Caballero would leave Manchester City on a free transfer, and he is unlikely to be short of offers during the summer window.
It has been suggested that Benitez is looking for value for money when it comes to signing an experienced goalkeeper, while he is prepared to meet the wage demands of Reina, a transfer may be scuppered if the Italian side ask for too much money.
That would leave Caballero - who made 24 starts in all competitions for City during this campaign - as the more attractive option.
The Magpies are already well-stocked in the goalkeeping department, but sales are expected should Benitez be successful in securing a deal for either Reina or Caballero.