A deal with the US-based Lightwell Sports Group fell through in June last year and in January, Colchester were in talks with the Sports Alpha Capital consortium which included former AC Milan and Brazil forward Alexandre Pato.
They later withdrew their interest, saying: “SAC will continue to explore future opportunities within English football while maintaining a lasting respect and affection for Colchester United and its supporters.”
Terry played almost 500 games, and won 78 international caps, during a playing career which ended in 2018 following a season at Aston Villa.
He won multiple trophies with Chelsea, including five Premier League titles and five FA Cups, plus the Champions League in 2012.
Speaking on Monday, Aaron Jay, who runs the Beyond the Barside podcast, external, told the BBC: “I think Colchester United fans have been really eager for this sort of takeover to be done for the past year or so.
“To be at a point where we’re nearly there and there’s nearly something happening is exciting for a lot of U’s fans.”
Colchester are competing in their 10th season in a row in the fourth tier of English football, having been as high as the Championship as recently in 2008.
