US-led consortium in talks to buy Colchester United | OneFootball

Another English football club could soon be taken over by an American company with a consortium currently in talks to buy Colchester United.

The U's chairman Robbie Cowling announced in a statement that a deal is close for the company to be owned by 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," Cowling 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.

"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."

Colchester United finished 10th in League Two this season, three points off a play-off place.