Chelsea legend John Terry is said to be part of consortium seeking to buy the League Two club for around £14m.
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"Further details will only be shared once a transaction has been fully completed and all formalities have been concluded," Cowling said in a statement.
"In the meantime, my focus remains on ensuring that any decision regarding the future ownership of the club is the right one for Colchester United, its supporters, and its long-term success."
Cowling also stated that the club were "not in a position to comment on any specific individuals or companies involved".
The U's are 13th in League Two and host Accrington Stanley on Tuesday.