• Premier League

Release clause met for Chelsea target Villas-Boas

ESPN staff
June 21, 2011
Andre Villas-Boas learned his trade under Jose Mourinho © PA Photos
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Porto have confirmed they received the required payment to trigger Andre Villas-Boas' release clause, with Chelsea hopeful a deal can be agreed for him to become their new manager.

It emerged on Monday that Villas-Boas had leapt to the top of Chelsea's list to replace Carlo Ancelotti, but it was also revealed that he had a €15 million release clause written into his contract.

There was no word from Chelsea on the matter, but things picked up a pace on Tuesday when Villas-Boas handed in his resignation.

Porto confirmed his resignation and later in the day issued a statement to the stock exchange revealing they had received the payment needed to trigger his release.

A statement from Porto, who also confirmed Vitor Pereira as their new coach on a two-year contract, to the Portuguese Securities Market Commission read: "FC Porto, in accordance with Article 248 paragraph 1 of the Securities Code, hereby informs the market they have received from Mr Andre Villas-Boas the amount provided for in clause to terminate his employment contract."

The Portuguese champions did not confirm who had met the clause, while Chelsea put their head above the parapet by confirming their interest in the 33-year-old coach.

"We note that the release clause of Andre Villas-Boas has been activated," read a statement on Chelsea's official website. "We can at this time confirm our interest in him and hope to reach agreement with him on personal terms and make a further announcement in the near future."

Villas-Boas is now free to talk to interested parties and a move to Stamford Bridge as the Blues' new manager appears imminent.

© ESPN Sports Media Ltd.
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