Porto coach Andre Villas-Boas will soon be confirmed as the new Chelsea boss according to reports in Portugal.
Villas-Boas – who worked under Jose Mourinho while he was at Chelsea – has a release clause in his contract of around £13m.
The amount is thought to have put off other potential suitors like Inter Milan but Roman Abramovich has no such qualms and is thought to have stumped up the cash.
The news from Portugal has seen the odds on the 33-year-old becoming the latest boss at Stamford Bridge come crashing in to 1/5, making him the overwhelming favourite.
Second favourite Guus Hiddink has drifted to 5/1, while Mark Hughes is out at 6/1.
Villas-Boas has only been a manager for two seasons but his rise to the top of the game has been meteoric. After leaving Chelsea in 2009 he enjoyed one season in charge of Portugal’s Academia before being given the Porto job last summer.
During his first and probably only season in charge of Porto, Villas-Boas broke dozens of records as he lead his side to the Europa League title and the Portuguese championship.
He’s the youngest coach ever to win a European competition and finished the Portuguese season 21 points ahead of second placed Benfica.
Despite these latest developments, Chelsea’s odds on winning the Premier League title have remained steady at 5/2.