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Last Updated: Thursday, 12 August, 2004, 13:56 GMT 14:56 UK
Charlton reach Cole deal
Carlton Cole
Charlton have withdrawn their complaint to the Premier League over Carlton Cole's failed loan move after Chelsea paid their London rivals compensation.

The Addicks expected the striker to join them on loan for a second season under the terms agreed for Scott Parker's transfer to Chelsea.

But Cole signed a season-long loan deal to Aston Villa earlier in the summer.

"I now consider the matter to be closed," said Charlton chief executive Peter Varney on the club's website.

He continued: "Following amicable discussions with Chelsea, we have withdrawn our complaint to the FA Premier League regarding the circumstances surrounding the loan transfer of Carlton Cole to Charlton and associated issues.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

"Chelsea have agreed a settlement with us which will not be disclosed, but is acceptable to both parties

Cole scored five goals during his time on loan at Charlton and Alan Curbishley's team sought legal advice when it became clear the 20-year-old striker would not return.

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