Millwall reports larger loss

English Millwall reported a larger pretax loss than anticipated for the first half of the fiscal year, which ended 30 November 2006, and said it is holding talks to find additional funding to guarantee it can continue trading and to try to revitalize the club.

Pretax loss grew from GBP 2.4 million a year ago to GBP 2.9 million as turnover fell from GBP 2.8 million to GBP 2.4 million.

The loss widens to GBP 3.2 million from GBP 2.4 million once player trading is excluded.

The club's performances have slowly improved and recent home attendances have reached as high as 9,500.

"I accepted the position of Executive Chairman on 27 October 2006, fully aware of the various challenges facing the Club following the departure of Peter de Savary," said Heather Rabbatts, executive chairman of the club in a statement.

"Sadly, hugely disappointing results led to the departure of Nigel Spackman, who has subsequently been replaced as first team manager by Willie Donachie."

Rabbatts continued with remarks about the clubs ticket sales and fan loyalty.

"Season ticket sales standing at 4,858 were resilient in the light of our relegation, reflecting the loyalty of our core supporter base, and we thank them for their continuing support."

Millwall used a highly visible marketing initiative throughout London using posters at train and bus locations to promote its "Real Talent, Real Passion, Real Football" campaign and Rabbatts said it would continue to explore all available ways to market the club even further.

The club's performance has improved and is just below the mid-table in League One and The Times has put it in the top 6 of its short-term form table.

"A swift return to the Championship remains the ambition of the Board and all associated with the Club with membership of the Premiership the ultimate goal," said Rabbatts.

"A high calibre team has since been appointed to develop the regeneration vision. This team includes Stock Woolstencroft, a leading architectural firm responsible for a number of major developments across the country, CBRE land assembly advisers, currently involved with masterminding the 2012 site assembly and Hepher Dixon Planners, the firm which led the planning on behalf of the new Arsenal Stadium in North London."

The club is excited about the plan and said the next step is to develop the planning application and getting a change of designation in land use.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.