Chelsea target Alvaro Pereira has signed a new four-year deal with Porto.
The Uruguayan full-back was heavily linked with a move to Stamford Bright until deadline day in the transfer window.
However, a late deal broke down with Chelsea unable to agree a fee with the Portuguese club, who earlier in the summer suffered the loss of Andre Villas-Boas as manager.
Villas-Boas, well aware of the full-back qualities after spending last season with the player was reported very keen to sign Pereira to complete his defence ahead of a title jaunt with Chelsea.
Reports had suggests Chelsea would resurrect the deal in January, but the 25-year-old's new deal puts an end to any hopes the west Londoners had.
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