Pereira signs new Porto deal
Chelsea wanted to sign star over the summer
By Francisco Acedo. Last Updated: 03/10/11 11:08am
Porto full-back and Chelsea target Alvaro Pereira has signed a new four-year deal with the Portuguese club.
Chelsea were keen to sign the Uruguay international over the summer, with Blues boss Andre Villas-Boas well aware of the defender's talents following his time at the Estadio do Dragao.
The Stamford Bridge outfit had one bid rejected by the Europa League holders but were still locked in negotiations on transfer deadline day.
However, talks broke down with the club unwilling to meet the €30million (£26m) release clause in Pereira's contract.
Any talk of a future move by Chelsea for the 25-year-old appears to have been ended by the news that Pereira has put pen-to-paper on a new deal until 2016, though, significantly, the €30million release clause remains.