CHARLTON have called off takeover talks with potential investors after being linked with a £45 million buy-out by a Middle East consortium.

In August, the board of Charlton plc brought in takeover experts Seymour Pierce Limited to advise them on a possible takeover.

In a statement to the Stock Exchange, the club have announced: "The board have concluded that the best interests of Charlton Athletic are served under the current ownership.

"As a result all talks regarding possible offers for the company have now been discontinued.

"The board of Charlton is committed to the long-term success and future of the company, including the provision of appropriate funding so to ensure that the club is well placed to challenge for Premier League status."

Charlton plc chairman Richard Murray is overseas on holiday and unavailable for comment.

However, the club are expected to announce a new rights issue at the weekend after delaying the news for a week.