Colvin said “We are grateful for John’s help at a time when the club needed it.
“It was always in our plans to bring Dens back into the Dundee family ownership and negotiations have begun to do that.
“Obviously it is dependent on price, but I can confirm that talks are under way with John to buy Dens Park.”
John Bennett added: “I told Dundee at the time I bought the ground that I would sell it back if it was going into the hands of Dundee fans and I’ll stand by that.”