EFL club confirm talks to sell club amid rumoured £14m bid backed by John Terry

Colchester United have declared an unnamed consortium are in talks to buy the club amid rumours John Terry is set to become the new co-owner.

Reports have claimed that the Chelsea legend is part of a group that will splash out £14million on taking control of the League Two outfit.

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The five-time Premier League champion is in line to have a significant influence on the football aspects at the club.

His nephew Frankie is already on Colchester’s books and could now be joined by his uncle, with Terry joining the board.

The 22-year-old left-back joined the club’s academy as a youngster and has 17 first-team appearances to his name.

Colchester revealed on Monday that an unnamed consortium was in talks to buy the club from owner and chairman Robbie Cowling, who has held the keys since since 2006.

A statement read: “Colchester United are currently in detailed discussions with a consortium regarding a proposed sale of the club.

“At this stage, we are not in a position to comment on any specific individuals or companies involved.

“Further details will only be shared once a transaction has been fully completed and all formalities have been concluded.

“In the meantime, my focus remains on ensuring that any decision regarding the future ownership of the club is the right one for Colchester United, its supporters, and its long-term success.”

U’s looking up

Colchester currently sit 13th in League Two ahead of their home clash with Accrington Stanley on Tuesday.

The club are in their tenth consecutive season in the fourth tier since relegation from League One in 2016.

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Danny Cowley’s side are nine points adrift of the play-off places with four matches remaining this term.

Colchester have been in the Football League since promotion as Conference champions 34 years ago.

They even spent two seasons in the Championship between 2006 and 2008.

Terry’s coaching career

As for Terry, the 45-year-old has been working with Chelsea’s academy since returning to his old club three years ago.

Since retiring in 2018, he has also had spells as assistant manager at Aston Villa and Leicester City under Dean Smith.

Meanwhile, Terry recently received a diploma in club management from FIFA.

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However, the former England captain is yet to land his first senior managerial role.

But he could become the latest famous face to invest in an EFL club.

Wrexham’s Hollywood owners Ryan Reynolds and Rob McElhenney have overseen the club’s monumental rise from non league to the Championship.

The Welsh club have climbed from fifth tier National League having experienced three successive promotions.

Snoop Dogg is also an investor at fellow Championship side Swansea City.

NFL legend Tom Brady is similarly part of the ownership group at Birmingham City.