Mystery investor at Millwall

(First Edition)

A MYSTERY consortium of City investors is set to take a significant stake in Millwall, the USM company that owns the south-east London football club, writes Robert Cole.

Millwall's shares rose 1p yesterday to 5.75p - a 21 per cent increase. Reg Burr, chairman, said the potential stakebuilder was friendly. But he said the would-be investor was not Ogden, the US events organiser.

Millwall, floated on the USM in 1989 at 20p has had a rough ride on the stock market but has enjoyed renewed following since it turned itself into a leisure complex operator rather than purely a football club company.

Ogden has agreed to fill the New London stadium - which Mr Burr says will be a rival to Wembley - with a series of entertainments.

Mr Burr said discussions with the stake hunter were at a preliminary stage. He added that the company did not need extra cash to fund the new stadium.