Chelsea agree Mourinho deal
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Chelsea have agreed terms with Porto over compensation for their coach Jose Mourinho, who will be named as the new Stamford Bridge boss on Wednesday.
Mourinho had talks with Chelsea on Tuesday but had not resigned from Porto and had two years left on his contract.
A statement to the Portugese stock exchange later on Tuesday confirmed Mourinho's contract had been cancelled.
It was not revealed how much Chelsea had paid Porto, although reports suggest it was £1.7m.
The 41-year-old Mourinho will be unveiled as Claudio Ranieri's successor at a 1000 BST news conference on Wednesday.
"Porto agree with Chelsea Football Club Ltd the terms for the annulment of the contract of employment of head coach, Jose Mourinho," the statement to the Portugese stock exchange said on Tuesday.
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<span style='color:blue'>It has been reported that Mourinho will sign a four-year contract at Stamford Bridge on a salary worth £100,000 per week. </span>
He became the London club's top target after winning the Uefa Cup and Champions League with Porto.
Once he is officially installed, Mourinho can start spending some of the millions Russian magnate Roman Abramovich has poured into Stamford Bridge.
It is thought he might try to bring Deco, Paulo Ferriera and Costinha with him from Porto.
Meanwhile, Ranieri's agent Jon Smith is negotiating the Italian's pay-off with Stamford Bridge chiefs.
Ranieri had a contract until 2007 but had been tipped for the sack ever since Abramovich took control of the club last summer.
Smith confirmed: "We are negotiating the terms of the settlement."
