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An announcement regarding an appointment was expected today after Chairman Jeff Burnige issued a statement to that effect on the club's official site last week, but the club are still in talks with the former Derby County manager about the possibility of him taking over from Dennis Wise.
The news will leave Lions fans frustrated once again. With pre-season just around the corner, many feel that the new man will not have enough time to access the current squad and sign any additional players before the start of the new season.
Speaking today, Burnige spoke of his own frustrations in finding the right man for the job.
"Last Tuesday I was approaching the time when I felt an appointment had to be made," revealed the chairman. "Having reached the end of my research period, I wanted to get on with it.
"There were a couple of individuals whom I felt would do a great job for us, and who I was trying to get interested in committing themselves. Then George Burley became available, and I had to consider someone who has enjoyed significant success at this level.
"I duly followed that up, and I, along with one of our directors, met with him and his advisor on Monday afternoon.
"The meeting went well and was encouraging, but he has to go away and weigh up whether he is ready to jump straight back into management only a matter of days after leaving Derby in difficult circumstances. He also needs to decide whether he would be excited at the prospect of becoming Millwall manager, and if he is we'll be having further talks shortly.
"I would like to allay any fears amongst the fans that we are not in a position to pay a good Championship salary to the right manager. That is not the case, and I don't expect that to be a stumbling block in negotiations with the person whom we believe, and who himself believes, that this is the job for him."