Charlton's bankers HSBC have withdrawn the club’s overdraft facility and warned them not to spend a penny more.

But football club chairman Richard Murray moved swiftly to squash mounting speculation that Charlton are on the verge of being placed into administration.

Persistent national newspaper reports suggest Charlton could be placed into administration next month, taking a 10-point deduction.

But Mr Murray retorted: “First of all I don’t know where these reports come from. So far as Charlton are concerned, the directors will keep supporting the club and nobody has talked administration.

“We have been told by our bankers that our overdraft facility has been withdrawn, which is the same for a good many other clubs in these crazy, crazy financial times.”

To date, the club’s directors have poured £45 million of their own money into the club in the last 10 years and Mr Murray disclosed: “We are £21 million in debt but of that figure, £15 million is owed to directors which leaves the debt at £6 million.

“Clubs all over the country, including many in the Premier League, are experiencing serious difficulties. Some are going public, others are not.

“We pride ourselves on being a family club and like to keep our supporters fully informed.”

Mr Murray confirmed that new investors would continue to be sought to help ease the financial burden, but they had to be ready for the long-haul rather than a short-term fix.

Cost-cutting measures are already underway within the club and will continue.