Its as reliable as anything you read on the internet....so can be full of lies and untruths. I was warned off using it as a reference source in a uni course i was doing.
I take it your mate was looking at
http://en.wikipedia.org/wiki/Jo%C3%A3o_Moutinho
It says:
(Everton Fc) Everton Triggered Moutinho 25 Million euro release clause and he has signed a lucrative four year deal. But only Joking!
Looks like someone is having a laugh.