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UPDATE 1-Soccer-Porto and Chelsea agree Mourinho contract deal

LISBON, June 1 - Porto agreed terms with Chelsea
for the annulment of Jose Mourinho's contract on Tuesday,
leaving the coach free to join the English premier league club.

Porto announced the agreement with Chelsea in a statement
released to the Portuguese stock exchange.

"Porto agree with Chelsea Football Club Ltd the terms for
the annulment of the contract of employment of head coach, Jose
Mourinho," the statement said.

No financial details were made available.

The 41-year-old Mourinho had another two years to run on his
contract but announced his intention to leave shortly after
guiding Porto to victory in the Champions League final against
Monaco last week.

Chelsea confirmed the sacking of their Italian coach Claudio
Ranieri on Monday and Mourinho arrived in London on Tuesday with
Chelsea chief executive Peter Kenyon, who said there would
probably be a news conference in the next 24 hours.