Sources inside the Boleyn were staying tight lipped over the reasons but some reports claim that manager Sam Allardyce had a late change of heart and wants to keep the club loyalist.
However, we understand the terms on offer from the Championship club were also short of Cole’s expectations.
And it now seems possible that the Irons will be offering the big fella a new deal at the end of his present deal.
A primary ClaretandHugh source simply said: “It’s a non runner. It definitely won’t happen. Things have changed. Carlton’s staying.
“It looked for a long time as though it would go through but there are good reasons why it didn’t happen.”