The Portuguese club confirm receipt of payment, reportedly €15million, to release him from his contract.
Chelsea pay Porto for the release of Villas-Boas
Chelsea's pursuit of highly-rated coach Andre Villas-Boas appeared to move a step closer to completion tonight as Porto announced they had received the payment required to release him from his contract.
Confirmation came earlier today that Villas-Boas tendered his resignation with the Portuguese champions, and the receipt of the compensation payment, reported to be €15million, leaves the way clear for the 33-year-old to move on to a new club.
Now it seems only a matter of time before the Portuguese coach is unveiled at Stamford Bridge.
A statement from Porto 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 statement added that all that remained to sort out were the formalities of the termination of the contract.
Porto, who also confirmed Vitor Pereira as their new coach on a two-year contract, added on their official website: "The amount has been deposited on the termination clause of the work contract of Andre Villas-Boas."