According to British journalist Jon Waldron of the Daily Gazette, Pato has held talks with Robbie Cowling, the current owner of Colchester United, as part of the club's sale process.
Pato was present last Saturday at the JobServe Community Stadium, where he watched Colchester's League Two victory over Fleetwood Town, a visit that comes as the club has been searching for a buyer for months.
Cowling announced his intention to sell the club after more than two decades at the helm, following the breakdown of negotiations with an American consortium last summer. As such, the talks with the former Brazilian international represent a significant new development in the process.
Pato had a spell playing in England with Chelsea, where he spent several months on-loan from Corinthians in 2016.