COLCHESTER United chairman Robbie Cowling admits they will have to 'carefully consider' any offers they receive in the January transfer window.

The U's supremo admits the club must continue to be strict with its spending when the window opens, in the wake of the ongoing impact of the Covid-19 pandemic.

Colchester and other EFL clubs can trade again from Saturday, with the winter window open until February 1.

And Cowling has conceded that any 'opportunities' to generate cash that arise in the coming weeks will be carefully assessed, in light of the ongoing financial challenges the club faces due to a lack of income at the stadium.

Writing on the club website, www.cu-fc.com, the U's chairman said: "By way of a financial update, the club will soon receive the final part of the rescue package that Premier League kindly donated to the EFL to stop it clubs from going broke.

"It has been estimated that gate receipts for Leagues One and Two are down by just under £100m due to stadium closures.

"Therefore the £30m donated equates to just over £0.30p for every £1 lost.

"This money is gratefully received but it only fills 30% of the gate receipt hole and 0% of the money the club has lost from the other 340 days of the year that the stadium is normally open for.

"I mention all of these financial issues in part because it seems as though many people think clubs have been fully compensated for their losses when the truth is we have not been.

"I also want to prepare everyone’s expectations for the January transfer window that is opening soon.

"The club is definitely going to survive the pandemic and the money received from the Premier League has lifted the club off its backside, but only onto its knees.

"Until we are out of this crisis and can turn back on all of the revenue streams we depend on in normal times, we still have to be very strict with our spending.

"If January presents opportunities to put more money in the bank, then we will have to carefully consider those opportunities because every day that the stadium is out of action is extremely costly and it looks like those costs will need to be incurred for the foreseeable future."

Meanwhile, Cowling says the support of Colchester fans is inspiring him 'to do everything he can do'.

In sending best wishes to supporters ahead of the New Year, the U's chairman struck a cautious tone with times still extremely tough for EFL clubs.

However, he was also quick to assure fans that the future of the U's is 'in safe if somewhat cautious hands'.

Cowling added: "I would have much preferred to be sending out a message full of optimism but I must continue with messages of caution.

"It's a miracle that all 72 EFL clubs are still standing but many are doing so by deferring financial payments into the future whereas I would rather take as much of the pain now whilst I know what we can endure. Who knows what the future holds for this season.

"We are of course optimistic that the vaccine represents a way out in the near future, but right now cases are rising and so many games, in what is already a crowded schedule, are being postponed.

"There really are no guarantees that this season will get completed. However, I can assure you all that Colchester United is in safe if somewhat cautious hands.

"I can't express enough how grateful Colchester United is for every bit of support it currently receives.

"It's not just the money but the fact that so many of you care about your local football club in its time of need. It certainly inspires me to do everything I can do."