Charlton manager Chris Powell has been sacked and is likely to be replaced by Jose Riga.
Powell and new owner Roland Duchatelet were in talks over a new contract, but they disagreed on too many key issues in recent weeks for the extension to go through.
Charlton have had a dismal campaign: the London side, who finished ninth in last season's Championship, sit bottom of the league and four points off safety, although they have four games in hand over 21st placed Millwall.
Duchatelet, who owns Standard Liege and has links with four other European clubs; he used these links to make five of Charlton's six signings in January whilst the Addicks sold Yann Kermorgant and Dale Stephens to league rivals, said:
"The situation put a strain on the working relationship between Chris and the board.
"Therefore I think it is best for all parties that we part ways at this stage.
"Given the club's position in the league and the number of important fixtures upcoming, I felt this difficult decision was unavoidable at this time," Duchatelet added.
"We will look to quickly appoint a replacement who we feel will give us the best chance of avoiding relegation from the Championship.
"I can assure supporters this was not an easy decision, but it has been made with the club's future in mind. Time will tell if it is the right decision."
Powell, who played over 250 games for Charlton in his playing career there, took over the club in January 2011, guiding them to the League One title in 2012. Last season, an inspired campaign saw the Addicks reach ninth place in the Championship, only four points of a play-off place.
Belgian Jose Riga, who has managed clubs such as Duchatelet's Standard Liege and many other Belgian teams, is expected to be Powell's successor.
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