Cole was due to spend the new season on loan at Charlton as part of the deal that took Scott Parker to Chelsea. But Carlton declined the chance to spend next season at the Valley, and it was thought that Charlton weren't keen to take the player if he didn't want to return.
A statement from Charlton chief executive Keith Varney read: "The announcement by Aston Villa and Chelsea that they've agreed a year's loan is premature.
"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."
Chelsea Mad will bring you further news on Carlton Cole's future as we get it...