Burnley
Blackburn Rovers
Coventry City
Derby County
Leeds United
Luton Town
Middlesbrough
Millwall
Norwich City
Portsmouth
Sheffield Wednesday
Sheffield United
QPR
Wealthy owners in football are nothing new, but clubs further down the Football League being targeted by rich consortiums overseas is becoming a growing trend, and we could see a League Two club emulating Wrexham’s success.
Go back 20 years or so, and the Roman Abramovich era at Chelsea was a rather unique case of foreign investment in English football. Then, of course, Manchester City followed suit and went on to great success.
With clubs throughout the Premier League already being snapped up by wealthy investors, the rich and powerful have begun to look further afield.
Indeed, you’d be hard-pressed to find a Championship club without a decent chunk of outside investment now. And, as we know well, both Birmingham City and Wrexham are great examples of what can happen when US owners come in to support EFL sides.
Both Birmingham and Wrexham achieved promotion this season with record-breaking success in League One, and now, League Two outfit Colchester United may be looking at that blueprint for the future, too.
- READ MORE: The bizarre reason why Gillingham were banned from wearing their home kit in League Two clash
What’s been said about Colchester United takeover?
In a statement released on Tuesday morning, it sounds like Colchester are very close indeed to getting a dream takeover that could spell great news for their future.
Colchester United Chairman Robbie Cowling said: “After nearly two decades at the helm of this wonderful football club, I can confirm that I am relatively close to finalising a deal to pass ownership to a US-based consortium led by Tim Foley.
“These discussions have been ongoing for some time, during which time I have grown to believe that the prospective new owners not only share my passion, and respect for the community, but are much better placed than I am to take Colchester United forward.
“It has been an incredible journey, and I remain committed to ensuring a smooth transition that secures the best possible future for the club, its supporters, and everyone connected with Colchester United. I will provide further updates as soon as I am able to.”
Foley is a real estate developer from New York and a self-made entrepreneur who has gone from humble beginnings to become a very wealthy man indeed.
Though little is known about his exact net worth, we do know that Foley’s company have overseen over $500 million in real estate transactions over the years, which bodes well for his financial capability to bankroll a new era at Colchester United.
- READ MORE: Only one club has achieved incredible EFL record, and they’ve now miraculously done it twice
Can Colchester United follow in Wrexham’s footsteps?
Obviously, a cash injection for Colchester would be a massive boost and could help them escape League Two and return to League One pretty swiftly.
However, it’s still very unlikely that we will witness Colchester following a similar trajectory to Wrexham’s rise through the EFL.
Wrexham’s historic success is a miracle in many ways, and we doubt we will see the same level of investment from Foley at Colchester to make that possible for the League Two outfit.
We have to bear in mind that a lot of Wrexham’s commercial success is down to the incredible profile of the owners, Ryan Reynolds and Rob McElhenney, which has made the Red Dragons a financial behemoth.
Foley simply doesn’t have that pull. But, that doesn’t mean he can’t deliver big success and a lot of progress for Colchester if this all goes ahead smoothly, and fans have every right to be very excited.