Chelsea set to appoint Porto coach Andre Villas-Boas as manager

Villas Boas and former Chelsea manager and mentor Jose Mourinho

Chelsea are set to appoint Andre Villas-Boas as their new manager after agreeing to buy him out of his contract at Porto, according to reports in Portugal.

The 33-year-old is reportedly on a plane to London to meet Blues officials and finalise personal terms on a deal to replace Carlo Ancelotti after Roman Abramovich agreed to meet the buyout clause in his contract at Porto, believed to be in the region of €15 million.

Villas-Boas has been linked with the top job at several of European football's elite clubs following a sensational first full season in management, in which he guided Porto to a historic treble and an entire league season unbeaten.

The man himself originally claimed he wished to remain at Porto for another season as they look to build on last season's success in the Champions League this term, but the club's president Pinta Da Costa recently admitted he could not guarantee his manager would stay.

“Villas-Boas has a contract and a clause of €15m,” he told reporters. “If someone deposits €15m into our account and he wants to go, we cannot do anything because it is something that is contractually specified.”

Guus Hiddink had been the favourite for the Chelsea job following speculation he was willing to walk away from his role with the Turkish national side.

But while it is believed he will still leave Turkey for Stamford Bridge, reports now suggest it will be to take on the role of director of football rather than manager.

Meanwhile, bookmaker William Hill has suspended betting on who will be the next Chelsea manager.