Carlton Cole's agent has confirmed he will play for Aston Villa next season and will not be returning to Charlton.
Charlton chief executive Peter Varney had cast doubt on Cole's loan move because they expected him to stay on as part of Scott Parker's move to Chelsea.
But Jonathan Barnett said: "Although Carlton enjoyed last season, he never had any intention of returning to Charlton for this season."
He revealed Charlton only had first option if Cole wanted to go back.
Barnett said: "Our understanding was that the original agreement in place between Charlton Athletic and Chelsea merely allowed Charlton the first option on the player should Chelsea wish to loan him out again in season 2004/5.
"This option would be subject to Carlton agreeing to once again return to The Valley.
"Although Carlton enjoyed last season with the club and appreciated the efforts of everyone in making him feel welcome there, he never had any intention
of returning to Charlton for this season.
"Therefore, there has been and will be no agreement between Carlton Cole and Charlton Athletic.
"Carlton has signed for Aston Villa for this season and is now concentrating all his energies on helping David O'Leary's side over the next nine months, a challenge he is very much looking forward to."
Earlier Varney told Charlton's official website: "The announcement by Aston Villa and Chelsea that they've agreed a year's loan is premature."
Varney added: "I am aware our supporters are expecting to see Carlton Cole to return to the club on loan for 2004/5.
"I do not wish to make any further comment at this time."