An investment consortium, including former AC Milan and Brazil forward Alexandre Pato, has withdrawn from talks to acquire Colchester United. The group, Sports Alpha Capital (SAC), led by João Xavier, had been in discussions with club owner Robbie Cowling's Aspire Media Group.
A joint statement confirmed that Aspire Media Group decided not to proceed with the proposed acquisition, stating that discussions have now concluded. Pato, aged 36, had been a guest of chairman Cowling at the JobServe Community Stadium in January, watching Colchester's League Two match against Fleetwood Town.
Mr Cowling has been actively seeking a new long-term steward for Colchester United for some time, having owned the club for nearly two decades. A previous takeover attempt by the US-based Lightwell Sports Group also fell through last summer, according to reports.
