|Villas Boas won the Europa League in his first season in charge at Porto [GALLO/GETTY]
Europa League winners Porto say they have not received an offer from Chelsea that would trigger a release clause in coach Andre Villas Boas' contract.
Villas Boas looked set to follow in mentor Jose Mourinho's footsteps and leave Porto to join the English Premier League side, according to Portuguese media reports.
National news agency Lusa and several newspaper websites said on Monday that the Stamford Bridge side had agreed to pay the $21 million release clause in the coach's contract with Porto.
"Andre Villas Boas has a release clause (in his contract)," Porto said in a statement.
"Until now we have not received any communication that this clause will be exercised, nor the coach's agreement for that purpose."
The club would have to announce the completion of any deal to the Lisbon stock exchange, where it is listed.
The 33-year-old Villas-Boas, a former assistant of Jose Mourinho at Chelsea, has been singled out as one of Europe's most promising young coaches after guiding Porto to the Portuguese league and Cup and the Europa League title last season – his first in charge at the Portuguese club.
If he moved to the English Premier League, it would be a huge career leap for someone with just two seasons under his belt as a first-team coach after moving to Porto from Portugal's Academica.
Chelsea are looking to replace Carlo Ancelotti, who was fired last month after his second season at Stamford Bridge ended without a trophy.
Dutch coach Guus Hiddink was also linked with a return to Chelsea, where he won the FA Cup as a caretaker manager in 2009.