CHARLTON plc chairman Richard Murray has refuted speculation that the club paid £5million in compensation to sacked former managers Iain Dowie and Les Reed.

Dowie, who agreed a three-year contract on May 30, was dismissed on November 13 following 12 league games and three cup ties in charge.

Reed succeeded him but lasted eight games before Alan Pardew was appointed on December 24.

Speaking at the annual shareholders’ meeting of the plc, Mr Murray set the record straight, confirming that nothing had been paid to Dowie while Reed was compensated on his first contract as head coach.

Mr Murray declined to discuss figures but said it was unlikely that compensation would be paid to Dowie.

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