The timing of Benitez’s comments will not be lost on fans of both clubs, particularly the Hammers, who were thrown into crisis last season over the contract arrangements that brought Mascherano and Carlos Tevez to the Boleyn Ground.
Mascherano’s loan switch to Anfield last January triggered the uproar that almost cost West Ham their Premier League status.
With Mohamed Sissoko having moved to Juventus yesterday for £8.2million, Benitez has the finance available to rid the Argentinian of the third-party ownership that has dogged him and Tevez since they arrived in English football.
The Premier League will have a new rule in place soon to outlaw such agreements, while Liverpool have the funds to make a sizeable down-payment on the midfield player, who is valued at £17 million by his owners MSI group.
Publicly, Benitez claims there is no intense hurry over the deal because Mascherano’s loan does not end until the summer.
But after co-owner Tom Hicks agreed to the outlay this week, Benitez is keen to ward off interest from other clubs and ensure the transfer is tied up as quickly as possible.
Benitez said: “Rick Parry (Liverpool chief executive) is working on the deal. He has also concluded the deal for Sissoko to go to Juventus.
“That will be good for him (Sissoko), he wanted to play and needed to play. But we have enough players in this position.
“We have Gerrard, Alonso, Mascherano and now Lucas for the midfield roles, and that made it hard for Momo to play regularly.
“Momo is a fantastic professional and a nice boy and I feel this was the right outcome for us and him. Now we are working hard to complete the Mascherano deal, and I believe that will happen.”
Benitez added: “I am confident it will be tied up soon. Sissoko has gone and we are closer to a deal for Javier.
“We are working very hard to achieve that before the window shuts. I hope for something positive in the next 48 hours. Javier has made it very clear he wants to stay here and I believe he will.”
Benitez will bring back Steven Gerrard, Jose Reina, Fernando Torres, Jamie Carragher and Xabi Alonso – none of whom started in the 5-2 FA Cup win over Havant and Waterlooville last Saturday.