Porto have confirmed coach Andre Villas-Boas has tendered his resignation and his contract will be terminated once his €15m release clause has been paid.

The Portuguese champions made the announcement in a statement to the Portuguese Securities Market Commission and it appears to pave the way for Villas-Boas to join Chelsea. The west London club are searching for a coach to replace Carlo Ancelotti, who was sacked at the end of last season. 

The statement read: "FC Porto was today notified of the intention of Andre Villas-Boas to resign from his contract with the club by triggering the release clause immediately. The contract will be terminated once the required amount is paid."

Villas-Boas guided os Dragões to the domestic double and UEFA Europa League success last season. He is also no stranger to Chelsea, having worked there under Jose Mourinho.

Villas-Boas, who was reportedly also on Inter Milan's wanted list, would dramatically increase his salary with a move back to Chelsea, with reports suggesting as much as £4.4m-a-year is on offer.