Colchester United rejected Livingston bid for Shamal George

But the U's supremo admits that the player could yet move to the Scottish Premiership outfit - providing they stump the right amount of cash for the former Liverpool shot-stopper.

Livingston made an offer for George earlier this month, which was rejected by Colchester.

Speaking at the U's Open Day, Mr Cowling said: "Of course we have values for all of our players.

"I don't like the way Livingston have done their business.

"They made a bid and then made it known publicly straight away.

"It was a derisory bid and we turned it down - we weren't interested in it."

George has impressed since joining Colchester as a free agent in August 2020, after leaving Premier League giants Liverpool.

The 24-year-old made 32 appearances for the U's last season and was voted their 2021-22 Player of the Year by fans.

George also landed the CUSA Home Player of the Year award, after an impressive season between the sticks, after helping his side keep eight clean sheets.

"Every player has got a value," said Mr Cowling.

"One thing you've got to understand with Colchester United is that most people at the club want to be moving on to somewhere else.

"That's how it should be.

"It should be the same for Wayne (Brown).

"He should want to do such a good job at Colchester that he moves on and goes somewhere else.

"That's how it should be and it's the same for Shamal and the same for everybody.

"I have to manage that as well as doing the best job for Colchester United.

"I do that by putting a value on players.

"When Wayne was a player here, we sold him to Hull and we had a value for him.

"That's the way that it works.

"If Livingston come up with enough money, they'll end up buying Shamal.

"It's important that we end up not standing in the way of players when a realistic and good bid has come in for them.

"That would be wrong.

"When players come here, one of the things we sell to them is that we can be that stepping stone to where they go next.

"It would be unreasonable of us to stand in the way of their career progress, if everything is reasonable."

Mr Cowling admitted that Colchester are reliant on bringing money into the club through player sales.

He added: "Money that comes in does go into the club.

"There's a certain amount that I'm prepared to put into the club and where money does come back, it does tend to recirculate into the club.

"Not always straight away but over time it does.

"We're relying on it - we need money to come into the club just to stand still."