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Swansea City are working on appointing a new permanent manager after cutting ties with Alan Sheehan on November 11th.

The Swans missed out on Hammarby IF’sKim Hellberg and then shifted their focus to CS Marítimo manager Vítor Matos.

Two days ago, we covered claims from Portugal that Matos has a €1m release clause in his contract. It was also reported Swansea City are willing to activate it, although it appears they weren’t willing to do so fully.

On Thursday, Marítimo released a statement which explained Matos will continue at the club unless someone pays that €1m in full and without negotiation.

Friday’s edition of A Bola covers the statement and adds that they were referring to Swansea City.

The newspaper then explains the formula proposed by the Championship side to sign the 37-year-old.

It’s claimed Swansea City wanted to pay €500k initially and the remaining €500k in instalments. The terms proposed by the Welsh club didn’t convince Marítimo, who have rejected their offer.

Indeed, the offer appears to have annoyed them rather than anything else.