The discussions come at a pivotal time for Colchester. Cowling, who has steered the club for nearly 20 years, is actively seeking to step away and pass the baton to a new custodian. The owner has been transparent about his desire to find a "long-term steward" capable of taking the club to the next level, though he has emphasised that he will not sell to just anyone.
A proposed takeover by the US-based Lightwell Sports Group collapsed last summer, but interest in the club remains high. Investors from the UK, Europe, the United States and the Middle East have all reportedly expressed a desire to purchase the U's. However, Pato’s emergence as a suitor adds a layer of glamour and intrigue that few could have predicted.
Speaking previously about his exit strategy, Cowling stated: "I’ve said this before, I want my last decision at the club to be my absolute best decision and that’s going to be who I hand it on to. I think it’s going to take a bit of time; we’ve got to make sure we find the right people that deserve to take on this football club."
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