Jose Mourinho expected to be given £12m severance package by Chelsea

Chelsea not likely to pay the full £40m

Jose Mourinho (GETTY IMAGES)

Chelsea are not expected to pay Jose Mourinho the full £40million compensation he is owed after being sacked.

The Portuguese manager left the club for the second time after two and a half years in charge, with the Blues just a point above the relegation zone following their ninth Premier League defeat of the season at Leicester City on Monday night.

Mourinho, who only signed a new four-year contract in August, is expected to be paid a year's salary by Roman Abramovich, in a severance package that will be worth in the region of £12m.

Chelsea's traditional approach has also been to pay managers until they next find permanent employment.

Although there have been previous reports that Mourinho would get the full amount, a large pay-off of £40m would risk Chelsea's compliance with Uefa financial fair play regulations.

Chelsea's statement on his sacking read: "Chelsea Football Club and Jose Mourinho have today parted company by mutual consent.

"All at Chelsea thank Jose for his immense contribution since he returned as manager in the summer of 2013.

"His three league titles, FA Cup, Community Shield and three League Cup wins over two spells make him the most successful manager in our 110-year history. But both Jose and the board agreed results have not been good enough this season and believe it is in the best interests of both parties to go our separate ways. The club wishes to make clear Jose leaves us on good terms and will always remain a much-loved, respected and significant figure at Chelsea. His legacy at Stamford Bridge and in England has long been guaranteed and he will always be warmly welcomed back to Stamford Bridge.

"The club’s focus is now on ensuring our talented squad reaches its potential. There will be no further comment until a new appointment is made."

Guus Hiddink is expected to take charge as interim manager until the end of the season, although it is not yet known if he will handle first-team duties for the match against Sunderland on Saturday afternoon.

Hiddink took over from Luiz Felipe Scolari as interim coach at Stamford Bridge in 2009, losing just one of his 22 matches in charge and winning the FA Cup.

His last job was a disastrous tenure in charge of the Netherlands that lasted just 10 games. Hiddink was sacked with the Oranje on the brink of failing to qualify for Euro 2016.