It was in the 2003–04 season that Carvalho made his name as a world-class footballer. His solid performances helped the club win the Portuguese league title for the second year in a row, and the most prestigious club trophy in European football, the UEFA Champions League. In this tournament, Carvalho played in all of Porto's matches, including the 3–0 win against Monaco in the final. Subsequently, his great performances merited the UEFA Club Best Defender of the Year award, voted into the UEFA Team of the Year, and was named one of the 50 players shortlisted for the 2004 Ballon d'Or), finishing ninth in the voting, being the only defender in top ten. He was selected for the Portuguese UEFA Euro 2004 squad, in which tournament he was also nominated for the UEFA Euro Team of the Tournament. At the end of the season, Carvalho has been tracked by a host of top European clubs, including Internazionale, Barcelona, Real Madrid and Manchester United. Real Madrid offered €8.2 (£7) million for Carvalho, but Porto warned the Spaniards they would not accept anything less than €23.5 (£20) million for the defender after the Spanish team made a much lower offer. Days later, English club Chelsea offered €30 (£25.5) million for the centre back, which the Portuguese team accepted.