IAN Holloway and the Millwall board are working on plans to revitalise the club next season.
Den directors met on Monday to discuss how to turn the Lions' fortunes around – be that in the Championship or League One.
Charlton's 1-0 win at Leeds on Tuesday left Holloway's side five points adrift of safety, a gap which is really six given Millwall's vastly inferior goal difference.
The Lions have seven games still to play and will probably require five wins to stay in the second tier.
But regardless of the club's fate, the board, in conjunction with Holloway, is set to implement a "change of direction" for the 2014-15 campaign.
Youth development and player recruitment are likely to be two of the key strategic areas under discussion.
The Millwall hierarchy's first task will be to diagnose exactly why the team has taken only 52 points from 60 games since January 2013, claiming just 12 wins.
"Since last year, our form has been relegation form," chief executive Andy Ambler said.
"This slump started in 2013 and has gone across three managers, with a points-per-game average of less than one. That's why we are where we are.
"The board is committed to arresting this slump and getting us back on track."
He added: "We have got two strategies but both involve Ollie. We have a plan for the Championship and a plan for League One because the financial constraints are different.
"The board and the manager will decide in the summer how to change it – but we do need to change it.
"If we go on a great run and save ourselves by the skin of our teeth, I don't think any of us will think all is well again.
"Fundamentally, we've got to look at the entire squad and the blend."
If Millwall do go down, Ambler says that chairman John Berylson will foot the bill – and invest in rebuilding the squad.
"Financially the commitment from the chairman is there," he said.
"So am I worried about a financial meltdown? No, I'm not, because John is as passionate as he ever has been and I know he wants to make the club better."
Millwall have used more players (42) in the Championship than any other club.
And the Lions' playing budget, which includes all staff costs, salaries and transfer fees, has passed the £10million mark as a result.
So Ambler admits that recruitment is an area that needs addressing.
"Last summer, the club took a stance of bringing in free transfers on bigger salaries than before," he said.
"Obviously our league position tells you that that did not work out and I think Ollie will be looking at that very carefully."
Holloway shares the board's enthusiasm for the future but insists he will not give up hope of avoiding relegation until that becomes mathematically impossible.
"We've got to try to stay up because it would be a damn sight easier to rebuild if we're still a Championship side next season," he said.
"If we're not, we'll have to deal with the fallout from that and plan where we go.
"Some clubs have built themselves stronger in a lower division and we have to start somewhere.
"For me, it's about our identity and I'm very proud of having the chance to build my own Millwall. That's what I want to do and I know that the chairman won't change his views."
While Holloway's immediate focus is on the final run in, he is already making decisions on the future direction of the club.
"Every game is telling me whether or not to keep certain parts of the team," he said. "That's what I've been telling everyone because we're all on trial.
"I got this job, I'm going to stick with it and deal with it. Whether other people will still be here, we'll have to wait and see.
"I had an opportunity here and I wanted to take it – however bad it was and regardless of what had happened before, I wanted to make a difference.
"I've committed to at least two and a half years and I think that's a very good commitment.
"Am I pleased with where we are in the table? No. But do I still believe we can do something about it now? Yes, I do. We have to do it now and very quickly.
"In the long term, it's about getting the identity of Millwall, playing in a certain way and producing results.
"Every time I see our kids play, I'm delighted to have them and I want to work with them.
"Together we can forge a way of playing that befits this wonderful club, which is all about commitment.
"We've got to decide where we get our players from in the future.
"I'm excited about deciding those sort of issues, working with Andy and helping the chairman take the club where he wants to take it."