BIG PHIL SCOLARI was named Chelseas new boss last night and immediately given a whopping £100million to spend.

The Portugal coach starts a three-year Blues deal on July 1, worth £5m a year.

And he will be able to buy the top players on the planet thanks to a bulging transfer war chest.

Scolari will start by signing Portugal playmaker Deco for £10m from Barcelona and he will hand a new £90,000-a-week contract to defender Ricardo Carvalho.

Chelseas Portuguese ace said: He is a great manager and a big personality. Hes the kind of guy that players respond to and I think we can go forward with him.

Portugals players only heard the news after yesterdays 3-1 win over the Czechs.

Carvalho, 30, added: We were all shocked by the news. We heard the rumours but didnt guess he would be going to Chelsea after the Euros.

Deco, 30, is known to want a move from Barca this summer after an injury-plagued campaign last term.

Scolari said: What happened at Barcelona last season was not Decos fault.

There is only one other player like him at Euro 2008 and that is Hollands Wesley Sneijder.

Decos an individual who dares. Hes ready to take risks and do things differently.

Chelsea confirmed Scolaris appointment last night and it was understanded that Roman Abramovich personally closed the deal on Monday.

Owner Red Rom met with the 59-year-old Brazilians people in Switzerland and put the offer on the table.

A club statement read: Felipe has great qualities. He is one of the worlds top coaches with a record of success at country and club level.

He gets the best out of a talented squad of players and his ambitions and expectations match ours. He was the outstanding choice.

Scolari had asked for the announcement to be delayed until after Portugals interest in Euro 2008 was over.

But with speculation rife, it was agreed yesterday Chelsea could confirm the appointment if Portugal beat the Czech Republic.

Scolari has yet to sign a contract with the Blues.

But his camp are adamant he will not renege on this deal like when he changed his mind over taking the England job two years ago after giving the FA his word.