FC Porto's board have denied claims that they have come to an agreement with coach Jesualdo Ferreira over a new contract.Ferreira last week revealed that he had been offered a new deal by the club's board that he had "accepted with great pleasure".

However, Porto issued a statement on Monday denying that any such agreement had been reached.

"Despite some contacts between the club and our manager Jesualdo Ferreira, aiming to extend the current contract that expires on June 30, 2008, the terms have not been concluded, nor any formal agreement reached," the statement read.

Ferreira arrived at Porto at the start of the 2006-07 campaign following an impressive spell at Braga and led the team to the league title in his first season.

The 61-year-old has taken Porto 14 points clear at the top of the SuperLiga this season but saw his side crash out of the Champions League on penalties against Schalke in the second leg of their last-16 encounter last week.

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