Wise will stay despite chairman exit

Dennis Wise will continue as Millwall manager after Theo Paphitis steps down as chairman next summer.

The player-manager's contract runs out at the end of the season and he had indicated his commitment to the club was linked to Paphitis staying in his post.

But assistant manager Ray Wilkins has told fans that he and Wise will sign new oneyear deals and stay at Millwall until the summer of 2006.

Ahead of their Championship game against Derby at The Den tonight, he said: "Dennis and I will be staying for another year after this one."

Their extended commitment is important to the club's stability and getting it has been a key task of the chairman's since the pair took Millwall to their first FA Cup Final this year.

Paphitis aims to stay involved as a director next season but wanted to keep his successful management team together as he tries to bring in new investors to ease his withdrawal.

He did that last week when American investment company Lonestar Partners bought £500,000 worth of new shares in Millwall.

That gave the firm a 10.9 per cent stake and made it the largest shareholder, although it is thought to be gambling on the club's value increasing in the short or medium term rat her than becoming involved in their running.