Porto's Pereira wins new deal

03 October 2011 08:17
eft-back Alvaro Pereira, who was a summer transfer target for Chelsea, has signed a new contract that ties him to Porto until 2016.

Chelsea saw a bid for the Uruguay international rejected in August, with the 25-year-old now committing his future to the Portuguese champions.

Pereira, who still has a release clause of £25.7million, was previously contracted until 2015.

A statement released by the club to the Portuguese stock market (CMVM) read: "The Football Club Porto informs the market of the extension to Alvaro Pereira's contract until June 2016. The release clause remains set at 30 million euros."

Source: Team_Talk