Alexandre Pato’s Investment Group Withdraws from Colchester United Takeover Talks

omidbasir- Brazilian footballer Alexandre Pato, who previously played for AC Milan, has decided to withdraw his investment group from discussions aimed at acquiring Colchester United.

Pato was present at a recent match against Fleetwood Town, where he attended as a guest of chairman and owner Robbie Cowling. Nonetheless, a joint statement from both parties confirmed that “Aspire Media Group has decided not to proceed with the proposed acquisition of Colchester United by Sports Alpha Capital (SAC), the investment consortium managed by Joao Xavier and including Alexandre Pato. Accordingly, discussions have concluded.”

The statement also indicated that SAC will continue to seek opportunities within English football while expressing respect and affection for Colchester United and its supporters.

Colchester United remains committed to its objectives for the current season, aiming for progress and success despite the recent setback in the takeover process. Cowling had previously put the club up for sale last year; however, a deal with the US-based Lightwell Sports Group fell through in June. Following this, Cowling reopened the sale process three months later, emphasizing the need for the right long-term steward for the club.

In a statement to BBC Essex in December, Cowling remarked, “I think I could grow it incrementally, but fans aren’t interested in that. All they’re worried about is how it does in the league and whether it wins. The analogy I use is I understand fans; they want a moon shot, and all I feel able to provide myself is a slightly longer ladder every year. Hopefully, I’m going to be able to go out there and find somebody that perhaps can provide that rocket.”

The involvement of Pato, who has represented Brazil in 27 international matches and participated in the London 2012 Olympics, generated considerable excitement among Colchester United fans.

It remains uncertain whether there are other investment groups still interested in the takeover. The acquisition process is being managed by American consultant Mitchell B. Reiss on behalf of the club. As it stands, Colchester United is positioned 12th in League Two, preparing for their upcoming away match against Barrow.