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American group buys into Millwall

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An American consortium has invested £5m in League One club Millwall.

Chestnut Hill Ventures, led by John G Berylson, has interests in business and financial services, retail, property and sport.

"This is tremendous news for Millwall and our fans," said Heather Rabbatts, who will continue to run the club in the role of executive deputy chairman.

"It enables us to move forward with confidence and continue to plan for future success on and off the field."

Berylson will become non-executive chairman of Millwall Holdings and a director of the club, while his colleague Demos Kouvaris will also join both boards.

In addition to this investment, a further £1.5m could be raised for investment from other parties and existing directors of the company and former chairman Peter de Savary will be investing another £500,000.

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