The Stamford Bridge club have been credited with an interest in the Brazil international for some time now, as they look for a replacement for Didier Drogba in attack.
The South American attacker has been a key man for the Portuguese champions over the last number of seasons, and as such he looks set to move to England this summer.
“No offer has been made yet, there is interest but it has not gone beyond that yet. I will start to deal with that next week,” Teodoro Fonseca told Lancenet, translated to English by Sky Sports.
“There are four other English teams interested in signing him, besides Chelsea.
“Porto are a big club, with great facilities and a big status in Europe. The problem is the Portuguese League. Hulk won everything at Porto except the Champions League.
“He dreams of winning it and establishing himself at the national team. In order to achieve that, he has to jump to a more competitive league, we admire the Premier League.
“Of course they will not let him go so easily, his release fee is €100 million, but in the end what the player wants will prevail, this is what Porto’s board said themselves.
“Now it depends on the player and those interested in signing him. It will not be easy, there will be some negotiations, but Porto are not saying they will sell him only for €100million,” he concluded.
By Gareth McKnight