TWTD understands that Hermann Hreidarsson this morning signed a deal to join Charlton Athletic. The defender had been in talks with the Addicks after they matched the £500,000-plus-extras deal Town previously agreed with Portsmouth.
Hreidarsson met with Alan Curbishley along with his agent last night and talks continued before being concluded this lunchtime.
It is likely that the lure of Premiership football, and Charlton's stable status within the top division, persuaded him to make a move away from Portman Road and turn down the chance to join Portsmouth.
The Icelandic international joined the Blues from Wimbledon two days before the beginning of the 2000/01 season for a fee which rose to £4.5 million when Town kept their Premiership place.
While the fee of just £500,000 will do little other than help pay Town's wage bill over the next few weeks, his £17,000-a-week pay packet will make a significant difference to the club's future outgoings.
Hreidarsson is currently out of action after receiving a gash just above his knee in the home game with Stoke City earlier this month.
The initial fee is likely to be topped up with further amounts due on appearances.