Charlton manager Lee Bowyer has signed a one-year contract extension after finally reaching an agreement with the club.

The Sky Bet League One play-off winners announced on Monday they had failed to agree terms with the former Leeds and Newcastle midfielder, but a deal was concluded by Tuesday morning.

The Addicks will play in the Championship next season after beating Sunderland at Wembley last month.

A statement read: "Charlton Athletic are delighted to confirm that Addicks' boss Lee Bowyer has agreed a contract extension with the club."

Bowyer, 42, took over as permanent manager last September after a spell as caretaker boss following the departure of Karl Robinson.

The club sought to reward him with improved terms but, as they are currently up for sale, could not match Bowyer's demands and were unwilling to offer more than a 12-month extension.

On Monday it seemed that a parting of ways was inevitable, but a breakthrough was later made.

Bowyer told the club's website: "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."

Bowyer, who earned one England cap, began his playing career at Charlton and also had spells at Birmingham, West Ham and Ipswich.

Chartlon owner Roland Duchatelet said: "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."