Colchester United Football Club is inviting qualified investors to bid for the purchase of the club after current owner and Chairman, Robbie Cowling announced his intention to sell his stake.
“The past nineteen years have been quite an experience for me and my family, but the time has come for someone new to take on this wonderful challenge,” he said in a statement on the club’s website.
“However, my final job as Chairman is going to be my most important one as I seek to find the right long-term steward for the club. I want my last decision for the club to be my best decision for the club.”
Cowling is hoping to attract new investment to further the club’s success both on and off the pitch.
“I am seeking someone who respects Colchester United’s values, history and traditions, wants to deepen the club’s identity and connection to its supporters, and wants to enhance its role in the local community,” commented Cowling.”
It is expected that the next owner will be able to acquire full ownership and control of Colchester United Football Club, debt-free and as an established League Two club, it has owner-friendly stadium infrastructure, first-class training facilities and Youth Academy, a multifaceted and diversified revenue model, regional market strength and significant growth potential.
The club has also been in discussions about the sale with Colchester City Council to help ensure key stakeholders in the community are involved in the process.
David King, the Leader of Colchester City Council, and cross-party counterparts, have welcomed the collaboration demonstrated by CUFC, and emphasised the opportunity this next phase in the club’s history presents to the community.
He said: “We’re proud to support Colchester United – a club that plays a vital role in our city’s sporting and community life. As the club looks to the future, we’re committed to working with new owners to help Colchester United thrive.”
It’s understood investors from the UK, Europe, the US and the Middle East have already expressed strong interest in acquiring CUFC. All interested persons should contact Mitchell B. Reiss at Mitchell.reiss@colchesterunited.net.
