Chelsea pay compo to Charlton for Cole

Chelsea have paid compensation to Charlton following Carlton Cole’s loan move to Aston Villa.

Chelsea have paid compensation to Charlton following Carlton Cole’s loan move to Aston Villa.

The Addicks had expected the striker to return for a second season under the terms agreed for Scott Parker’s transfer to Chelsea in January – but the England Under-21 international was signed on loan by Villa boss David O’Leary for the season.

Charlton chief executive Peter Varney said: “Following amicable discussions with Chelsea, we have today withdrawn our complaint to the FA Premier League regarding the circumstances surrounding the loan transfer of Carlton Cole to Charlton and associated issues.

“Chelsea have agreed a settlement with us which will not be disclosed, but is acceptable to both parties, and I now consider the matter to be closed,” he told the official club website www.charlton-athletic.co.uk.

Cole scored five goals last season for Alan Curbishley’s side but officials at The Valley sought legal advice when it became clear the 20-year-old striker would not return for the second year of the deal.

The player’s agent Jonathan Barnett had claimed Charlton only had first option on the player if Cole wanted to return to the club.

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