FC Porto are determined to keep Brazilian striker Hulk at the club despite interest from several English and Spanish clubs.

The 22-year old has impressed this season, so much that the Portuguese club added a release clause into his contract which is valued at €40 million.

A source close to the player said a move to either England or Spain was not feasible at this stage.

"There were two proposals, one in England and one in Spain, but Porto refused outright. In principle, Hulk has one more year [at Porto]," said Teodoro Fonseca, a business partner of the player's agent Juan Figer.

"Porto are not interested in selling Hulk. I will disclose the value of the release clause, which is €40 million (£34m). They will not sell him for €38m.

"In England, the clubs that have the financial capacity to pay more than €30m have followed the situation for a while."

It is believed that Manchester City, Manchester United, Arsenal and Chelsea have shown interest.