Chelsea missed out on Porto fullback Alvaro Pereira yesterday.

Chelsea were unable to reach an agreement with Porto before the 11pm deadline.

Their final offer of £16 million had been rejected by Porto, which were demanding closer to £28 million.

Porto now face the prospect of having a very unhappy Pereira on their hands, with the Uruguay international having had his heart set on joining Andre Villas-Boas at Stamford Bridge.

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