Berylson commits future to Millwall with increased loan

© Edmund Boyden

CHAIRMAN John Berylson has underlined his commitment to Millwall by making a further £8.5million available to the club.

Berylson, who is the major shareholder of Chestnut Hill Ventures, has increased the company's loan facility to the Lions to £20million – up from £11.5m.

The new loan is until July 2015 – meaning the American has committed himself financially to at least another three years in charge at The Den.



Berylson says the money will fund day-to-day operations at the club and the likely investment in the regeneration of the local area.

He said: "We have stated in the past that we see this as a long-term plan and I am delighted the club continues to make progress both on and off the field.

"The regeneration of the surrounding area at The Den and our commitment to the Millwall Community Scheme shows that we are here to stay and want to achieve sustainable success.



"Developing The Den and our surrounding area will help to future-proof our prospects and success."

Berylson's comments come amid a growing dispute between Millwall, Lewisham Council and developers Renewal, who are masterminding the Surrey Canal Project.

The Lions want to redevelop the Lions Centre on Bolina Road, which houses the Millwall Community Scheme, but the Council has started a tendering process which could see the land taken over by Renewal.

And in their annual accounts, also released today, Millwall have "called for Lewisham's whole-hearted support both now and in the future as the club finalises its exciting plans for these sites."

The financial report for the year ending June 2012 showed a major increase in operating losses – up to £4million from £0.6m in 2011.

Revenue was down by 2.9%, while matchday income fell 4.9%. Staff costs, which include player wage and loan budgets, rose by 22.7% to £10.3million.

Staff

(@NewsAtDen)

4 thoughts on “Berylson commits future to Millwall with increased loan

  • November 22, 2012 at 15:41
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    Great news - Along with Kenny, Mr Berylson has been the best thing to happen to Millwall in a long, long time.
    When some fans make unrealistic demands regarding who we should sign, some even mention the proceeds of the Morison sale(!), they need to remember that an operating loss needs to be funded by someone; namely JB. We continue to move forward as a club and as a team. Our current squad is infinitely better than last years. The fact that we can even consider being able to sign Wood and Beevers is down to one man. I hope that we can sign them both permanently but we need to be realistic and if we don't, it won't be for lack of trying! Thank you Mr Berylson for all you've done for our club!

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  • November 22, 2012 at 16:29
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    Thanks John it is appreciated, big losses what can we do more to get the revenue up at the club. ... Real Wall don't buy shirts ...(apparently). we all need to do the best we can with a three year lifeline. .... Speak to another shirt supplier now and involve the supporters in choosing the strip, get some hot dogs without rhino skins there's loads you can do to get the revenue up... Have we got a commercial manager ?

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  • November 22, 2012 at 19:06
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    Great news. We really need to build on what is happening at the club now. Nag all your mates, those who used to go but don't anymore, to get down the Den!

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