Lions' £4m losses 'untrue'
Millwall today sought to defend their financial position by dismissing reports of the club facing a £4m (€5.9m) annual loss.
The Championship promotion hopefuls and UEFA Cup contenders were reported to be paying a player wage bill which exceeded annual gate receipts by £3m (€4.4m).
Although they reached the FA Cup final last season, the New Den club’s chairman Theo Paphitis has admitted taking a series of financial gambles to achieve success.
But the club, according to a statement released to the Stock Exchange this morning, are not facing serious financial hardship.
Their yearly results are due to be published on Friday.
“The board of Millwall have noted an article in the press on September 7, 2004 referring to Millwall’s six-monthly financial results as due to be published in the next 10 days, and to the club losing up to £4m (€5.9m) a year,” said the statement.
“This is untrue and the article has a number of gross inaccuracies. Final results for the 12 months ended May 31 2004 (and not six-monthly financial results) are due to be published shortly, expected to be Friday September 10.”
