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Colchester takeover completed

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Colchester United have a new owner after local businessman Robbie Cowling completed his takeover of the newly-promoted Championship club.

Cowling has bought chairman Peter Heard's controlling interest in the Essex outfit for an undisclosed sum.

However, Heard - who had owned the Layer Road club for nine years - and the current board of directors are to stay on, at Cowling's request.

Cowling is described in a club statement as a lifelong West Ham fan.

His online recruitment company Jobserve.com are currently the Hammers' shirt sponsors, having previously been Colchester's main sponsor for two seasons.

"The structure of the deal reflects Peter Heard's devotion to the club and my long-term commitment to help support the club financially," Cowling said.

The statement added that Cowling "has tremendous respect for the current board and administration team, and recognises their amazing achievements taking the team from the Conference to the Championship with extremely limited resources.

"The U's are determined to maintain Championship status and although they recognise a tremendous battle is on their hands in the short term, they believe Robbie's appointment will prove beneficial to their long-term objectives."

Last season, Colchester won promotion to the Championship - the first time in their history that they had reached the second tier of English football.

Manager Phil Parkinson left for Hull during the summer, and has since been replaced by his former assistant Geraint Williams.

The club are still hoping to move away from Layer Road, where they have played since they were formed 1937.

In March, planning permission was granted for a new 10,000-seater stadium at Cuckoo Farm.

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