| Club Statement 15:19 - May 6 with 1042 views | mfb_cufc |
Colchester United Chairman Confirms Advanced Talks with US Consortium
Colchester United Chairman Robbie Cowling has today confirmed that he is in advanced discussions to sell the football club to a United States based consortium, Lightwell Sports Group, led by businessman Tim Foley.
Cowling, who has owned Colchester United since August 2006, stated: "After nearly two decades at the helm of this wonderful football club, I can confirm that I am relatively close to finalising a deal to pass ownership to a US-based consortium led by Tim Foley."
"These discussions have been ongoing for some time, during which time I have grown to believe that the prospective new owners not only share my passion, and respect for the community, but are much better placed than I am to take Colchester United forward.
"It has been an incredible journey, and I remain committed to ensuring a smooth transition that secures the best possible future for the club, its supporters, and everyone connected with Colchester United. I will provide further updates as soon as I am able to."
No further comment will be made at this time while the legal and regulatory processes are ongoing. |  |
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| Club Statement on 11:12 - Jun 30 with 665 views | wessex_exile |
New club statement - deal off, but Robbie is still on the look-out for the right people to take over the club. Mixed emotions if I'm honest. I think Robbie is good for Col U, so I can cope with another season under his ownership, no problem at all. If this season turns out to be a promotion season, he'll probably have plenty of interest. |  |
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| Club Statement on 11:20 - Jun 30 with 664 views | RSCOSWORTH |
| Club Statement on 11:12 - Jun 30 by wessex_exile |
New club statement - deal off, but Robbie is still on the look-out for the right people to take over the club. Mixed emotions if I'm honest. I think Robbie is good for Col U, so I can cope with another season under his ownership, no problem at all. If this season turns out to be a promotion season, he'll probably have plenty of interest. |
I guess it depends if the rumours of a greatly reduced playing budget are true or not. Evidently Taylor revealed that his offer was at 40% of his previous deal and Egbo has already announced that he's "unemployed". |  |
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| Club Statement on 13:22 - Jun 30 with 615 views | BLACKCAT |
| Club Statement on 11:20 - Jun 30 by RSCOSWORTH |
I guess it depends if the rumours of a greatly reduced playing budget are true or not. Evidently Taylor revealed that his offer was at 40% of his previous deal and Egbo has already announced that he's "unemployed". |
It's good that the uncertainty is over. But it's bad that the budget is being substantially reduced. Colchester United have the best management team in League Two and given a competitive transfer fund could be title challengers this season, particularly with some promising youngsters coming through. |  | | |
| Club Statement on 13:58 - Jun 30 with 596 views | wessex_exile |
| Club Statement on 13:22 - Jun 30 by BLACKCAT |
It's good that the uncertainty is over. But it's bad that the budget is being substantially reduced. Colchester United have the best management team in League Two and given a competitive transfer fund could be title challengers this season, particularly with some promising youngsters coming through. |
I don't know for certain, but I wouldn't be surprised if that was a 'holding position' pending the potential takeover. Now that it's not happening (for now) I'd be very surprised if Robbie hasn't already revisited the question of budget. He's a successful business man, why saddle us with a relegation budget when our success will actually enhance the value of the club for potential suitors. | |
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