Villas-Boas told reporters: "It is estimated between €16m and €20m per participation and then with an increase related to the performance achieved.
"Well below initial expectations, but always important for FC Porto for losing the Champions League this year. But I also say from the bottom of my heart, we are very pleased to be in this competition and very proud. We won the Intercontinental (title) twice and we want to be in this competition and honour these parchments."