The ex-England defender is reportedly part of a consortium preparing to complete a £14 million deal for the League Two side, marking his first major step into club ownership.
Terry, now 45, is expected to take on a significant role behind the scenes, particularly influencing football operations at the Essex-based club.
The move reflects a growing trend of high-profile figures investing in lower-league football, following the success of Ryan Reynolds at Wrexham.
There has also been increased celebrity involvement across the English game, including links to Snoop Dogg at Swansea City and Will Ferrell appearing around Leeds United.
An insider said: “JT is really excited for it to become official.”
Colchester currently sit mid-table in League Two and are aiming to build momentum as they push towards promotion in the coming seasons.
Terry’s involvement is already being felt internally, with the former defender having visited the training ground and engaged with players and staff.
“This has been a long time in the making, and JT is really excited for it all to become official,” a source told The Sun.
“He’s a hugely passionate advocate of lower league football, and helping clubs get the support and publicity they deserve.”
“He’s already been down to the training ground a few times and got stuck in without any fanfare.”
“He really believes in the boys and, for their part, the lads at Colchester are absolutely buzzing that he’s getting involved.”
“He will bring a real stardust. Everyone involved with Colchester is excited, and the hope is this deal will really put them on the map as they push for promotion.”
Terry’s connection to the club is also personal, with his nephew Frankie Terry currently part of the Colchester squad.
Despite his new venture, Terry is expected to continue his coaching role at Chelsea’s academy, where he has been developing his credentials, including completing a FIFA Diploma in Club Management.
For Colchester, the arrival of a figure like Terry represents more than investment — it signals ambition, visibility and a belief that the club can rise through the English football pyramid.