"Ipswich Town Football Club acknowledged today that the proposed transfer of Matt Holland to Portsmouth appeared to be in serious jeopardy as a result of a breakdown in negotiations over the player's personal terms," said an Ipwich statement.
"However, subsequent to this, the club can now confirm that it has reached an agreement of similar terms with Charlton Athletic and that Matt and his advisers have been given permission to speak to Charlton."
Ironically it was Charlton who swooped to sign Hermann Hreidarsson back in March just when the Icelandic international defender seemed bound for Fratton Park.