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Chairman writes off interest on debt

22 July 2015

John Berylson: "I'm as fully committed as ever."

John Berylson has agreed to write off £8.4m of accrued interest owed by the club to his company, Chestnut Hill Ventures. In addition, he has agreed not to charge any further interest at the present time.

Separately, cash funding of the ongoing losses is being made by issue of B shares (equity, not debt) and £12.375m of B shares were issued during the year to 30th June 2015 covering the last two years.

The chairman says: “I have agreed to fund the club on an ongoing basis by way of shares and am as fully committed as ever. Obviously League 1 means less revenue but, having funded the Academy for some time, it is encouraging to see so many good young players coming through which will be vital going forward.”

Fan on the Board, Peter Garston, added: "I am glad the board has agreed to make this information available to fans. This is the latest financing of a number that have taken place in recent years and it once again shows the board's financial commitment and input to Millwall Football Club.

"It also banishes any worries expressed by some fans. I would like to thank John Berylson and the board for their continued unwavering support."

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