Colchester FC's takeover bid has fallen through, with John Terry's consortium withdrawing from the deal. The club's owner, Robbie Cowling, had been seeking a long-term steward to take over the League Two side. In a statement, the club said that both parties had invested considerable time and effort into exploring the opportunity and would like to thank everyone involved for their professionalism and cooperation throughout the process. The decision has been reached amicably and with mutual respect. This is the second time that a proposed takeover has fallen through since Cowling put the club on the market in September 2025. Former Brazil international Alexandre Pato was part of a consortium, Sports Alpha Capital, which Colchester said they had decided not to proceed with the sale to in February. Terry, 45, retired from playing in 2018 after winning five Premier League titles and the 2012 Champions League with Chelsea over 19 seasons. He has since taken up a number of coaching positions, including with Aston Villa and Leicester City, and currently has a part-time mentoring role in Chelsea's academy. Terry has never held a senior head coach role, and if his consortium had succeeded in taking Colchester over from Cowling, it would have been his first involvement in club ownership. Colchester escaped relegation from England's fourth tier by three points in 2023-24 but have since clocked 10th and 12th-place finishes. Terry has been vocal in recent months about his desire to stay working in football. Following former Chelsea head coach Enzo Maresca's departure in January, he told YouTube channel Golf Life that he was 'frustrated' not to form part of Calum McFarlane's staff overseeing the first-team for January's games against Manchester City and Fulham. In October, he also said his 'dream' was to manage Chelsea and his managerial rejections have been 'difficult to fathom'.