Exeter City have won the race to sign highly-rated young midfielder Joel Colwill on loan for the rest of the season. The 20-year-old joins the Grecians from Cardiff City until the end of the season, with the deal having been completed earlier this week.

Colwill has shone in League Two with Cheltenham Town in what has been his first loan spell away from Cardiff, scoring nine goals and providing three assists in 28 appearances across all competitions. Having been recalled by the Bluebirds to be tested at a higher level, the Grecians have won that race.

There had been interest from other clubs, most notably Bristol Rovers. But City were the club that were chosen by both Cardiff and the player, who was at St James Park for the 3-1 FA Cup win over Oxford United, to spend the next several months of his career.

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“He was at the game today and he is someone we have been tracking for a while,” manager Gary Caldwell told DevonLive after Saturday’s win. “Other clubs have been tracking him and wanted him as well, so we are delighted we have got him in on loan until the end of the season.

“He is someone who a lot of League One clubs were looking at, so we are delighted he has picked us. He will add to the squad, and will come in with a lot of confidence as he has been outstanding in League Two and we believe he can step up a level.

“He is someone tracking and scouting and given he has done as well as he has, he does gets attention, lots of other clubs were looking at him, and we are delighted Cardiff decided us is the best club for him and he has picked us.”

Colwill is now the sixth loanee that the Grecians have, joining Joe Whitworth, Johnly Yfeko, Tristan Crama, Kamari Doyle and Amani Richards. With only five loan players allowed in a matchday squad at any one time, Caldwell said that the competition between that group will be tough.

The arrival of Colwill might not the last one City make in the January Transfer Window. The Grecians are looking to add one more name – and the prize money of £115,000 after reaching the fourth round could help Exeter.

“Possibly one,” Caldwell said when asked if there would be more arrival. “If I go and ask nicely, there might be some money after that win!

“We are trying to get one more but will see what we can get. The window is difficult but we will have a look at the market will see what is out there. If we can get someone who makes us stronger then we will see what we can do.”

Discussions are also continuing with players whose contract expire in January, with Kevin McDonald, Mustapha Carayol and Caleb Watts’ deals currently set to run out in eight days’ time. Watts produced a brilliant performance in the cup win and has stepped up his performances in recent weeks, and Caldwell said he was hopeful the Australian would sign an extended deal.

“We are talking to him and hopeful we get something done,” he said. “He has really kicked on in the last six weeks, we are delighted for him and hope he can stay for longer.”