Lee Bowyer has performed a U-turn and agreed to terms with Charlton Athletic.

Bowyer and owner Roland Duchatelet held overnight talks and have reached agreement on a new one-year deal to keep him at the club.

The amazing U-turn comes just hours after Duchatelet had released a bizarre statement saying the manager would not be staying in charge because he was asking for too much money.

Bowyer said: “We went on a real journey last season. The club came together - the players, the staff, the fans and we achieved something special.

"The journey hasn't finished yet and I'm delighted this has all been agreed.

“This has been a long process and I never wanted to leave, I love this club. I'd like to thank the owner for giving me the initial opportunity and now for continuing to believe in me.

“We have a fantastic fanbase here and my focus continues to be getting our squad in the best possible shape for the Championship next season."

Charlton owner Duchatelet added: “What Lee has achieved in his short time at the club is very impressive. He has united the club once again.

“I would like to thank Lee for his professionalism during this process. While the negotiations have been ongoing, he has continued to work on building a squad for the club's Championship campaign.

"Stability is essential and I am very pleased we now have the best man in place to lead us forward next season."