Colchester Council issue update on Jobserve Stadium as Col U takeover deal continues
On Tuesday, Colchester United chairman Robbie Cowling confirmed he is in advanced talks to sell the club to United States-based consortium, Lightwell Sports Group.
There has been a mixed reaction of caution and optimism from the fans so far.
Colchester United say they will not be making any further comments while the legal and regulatory processes are ongoing.
Chairman - Robbie Cowling (Image: RICHARD BLAXALL) However, The Gazette understands from a credible source that the deal does not include the sale of the JobServe Community Stadium, which is owned by the authority.
When approached by The Gazette, a Colchester Council spokesman has explained it is engaging 'constructively with all parties' as negotiations continue.
They said: 'As the landlord of the JobServe Community Stadium, Colchester Council recognises the vital importance of the club and the stadium to the local community.
'The stadium is not only home to Colchester United, but is also a community stadium, serving as a key asset for local groups, events, and residents beyond football.
Colchester United - the stadium (Image: NEWSQUEST) 'We welcome the assurance that the prospective new owners share a strong commitment to the club's future and the wider community.
'The council has a long-standing lease arrangement with the club, and while we will continue to engage constructively with all parties, we are mindful of the commercial sensitivity surrounding the details of that agreement.
'Our priority remains to protect and promote the stadium as a secure, well-managed, and thriving home for both Colchester United and the many community groups who rely on its facilities.'
The spokesman confirmed the council respects the 'confidentiality of any commercial discussions while ensuring that the community use of the stadium is safeguarded'.
It is also looking forward to working with the new 'ownership group' to support a smooth transition and the 'long-term success' of the 'important local asset'.
Manager - Colchester United's Danny Cowley (Image: RICHARD BLAXALL) Lightwell Sports Group is owned by American businessman Tim Foley.
There is not much information about the group online except a website which has a 2025 copyright and a video of Colchester United.
Mr Foley's LinkedIn profile states he is the owner of Lightwell Development, a New York based property development firm which built more than 100 apartments last year.
He has previously worked for the United World Wresting group as a senior manager of media operations.
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