Chelsea are reportedly preparing a cash and player deal to lure Alvaro Pereira from FC Porto.

Andre Villas-Boas is keen to land his former left-back but will need to spend money as the 25-year old Uruguayan has a £26.2million release clause.

It is believed that the Blues will table a transfer fee of £15.7million plus an unnamed player in a bid to get Pereira to Southwest London after Villas-Boas was given the all-clear to go after his man.

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