Colchester United in takeover talks with US-based consortium
Colchester United are in advanced takeover talks with a US consortium, headed by businessman Tim Foley.
In a short statement, chairman Robbie Cowling, who has owned the League Two club since 2006, confirmed talks are ongoing with the Lightwell Sports Group.
"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," he said.
"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."
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