Colchester United goes back on the market.
Colchester United Football Club is back for sale after a deal with a syndicate based in the United States fell through.
The League Two team stated on Monday that it was asking “all qualified investors to bid” on its purchase. It comes after the sale to Lightwell Sports Group fell through in June due to an inability to “complete the transaction.”
Robbie Cowling, the club’s owner and chairman, stated that he was “seeking to pass the leadership to a new generation of management”.
“The past 19 years have been an incredible experience for me and my family, but the time has come for someone new to take on this wonderful challenge,” he added.
“However, my final work as chairman will be the most crucial, as I endeavour to identify the best long-term steward for the club. “I want my last decision for the club to be my best decision for the club.”
BBC EssexTim Foley, the leader of the US consortium, stated that while the agreement was not reached in the summer, it did “not necessarily mark the end of our interest in the club”.
Mr Cowling stated that he was searching for an owner “with both the weather and financial commitment” to invest in the team on and off the pitch.
It is believed that the next owner will take complete control of the club, with no debt. David King, the Liberal Democrat leader of Colchester City Council, stated that he will endeavour to help the club thrive.
“We’re proud to support Colchester United – a club that plays a vital role in our city’s sporting and community life,” he told me.
“As the club looks to the future, we’re committed to working with new owners to help Colchester United thrive.”
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