"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. SAC will continue to explore future opportunities within English football while maintaining a lasting respect and affection for Colchester United and its supporters. Colchester United remains focused on the remainder of the season and its ongoing ambitions for progress and success."
""I think I could grow it incrementally but fans aren't interested in that," he told BBC Essex in December. "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.""
"Pato attended last month's game against Fleetwood Town as a guest of chairman-owner Robbie Cowling. The involvement of Pato, who won 27 caps for Brazil and was in their squad for the London 2012 Olympics, had excited the interest of U's fans. It is not known whether there are other investment groups still in the running. The takeover is being overseen by American consultant Mitchell B Reiss on behalf of the club."
An investment group managed by Aspire Media Group decided not to proceed with a proposed acquisition of Colchester United by Sports Alpha Capital (SAC), the consortium managed by Joao Xavier and including Alexandre Pato. SAC will continue to explore future opportunities within English football while maintaining respect for Colchester United and its supporters. Colchester United remains focused on the remainder of the season and ambitions for progress and success. Chairman Robbie Cowling put the club up for sale last year after a deal with Lightwell Sports Group fell through and reopened the process to find a long-term steward. The takeover process is overseen by consultant Mitchell B Reiss. Pato’s involvement had excited fans.
Read at www.bbc.com
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