Terry consortium takeover of Colchester off

Terry consortium takeover of Colchester off Image source, Getty ImagesImage caption, John Terry played almost 500 games, and won 78 England caps, during a career which ended in 2018Published2 minutes agoThe planned takeover of Colchester United by a consortium including former Chelsea and England defender John Terry has collapsed.It was understood that U's owner Robbie Cowling was on the verge of selling to the group, but the club have confirmed that this process has now ended. A statement, external from the Essex side said: "Colchester United Football Club can confirm that discussions regarding the potential acquisition of the club have concluded, and the parties will not be proceeding with the transaction."Both parties invested considerable time and effort into exploring the opportunity and would like to thank everyone involved for their professionalism and cooperation throughout the process."Following an extended period of due diligence and discussions, the parties have agreed not to proceed with the transaction. The decision has been reached amicably and with mutual respect."Cowling added: "I would like to thank everyone involved for the time, effort and courtesy shown throughout the process. Whilst we have ultimately decided not to proceed together, I wish all concerned every success in the future."Colchester fans excited by possible Terry takeoverAttributionNewsPublished14 AprilColchester confirm 'detailed' sale talks amid Terry linkPublished13 AprilCowling first put the club on the market last year, saying an owner with "deeper pockets" was needed but he would take as long as necessary to find the right buyer.A proposed deal with the US-based Lightwell Sports Group fell through last June and earlier this year a group including ex-Brazil forward Alexandre Pato pulled out of talks over a takeover. The Sun newspaper later reported that the Terry consortium had offered £14m, and Terry was seen in the stands a...