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"An agreement was reached with Southampton for his transfer," revealed Lions' director Theo Paphitis. "But this has now changed following the ambiguous reports received by their medical staff. Dave is consequently still a Millwall player and we are very happy with that and are confident that he will play a major role in our team.
"We are totally satisfied with Livers' medical condition. He has played 265 senior games for us since he joined in September 1999, an average of 44 matches a season which is a phenomenal fitness record by any standards."
Manager Colin Lee added: "It's been a difficult situation for David, but from my point of view, I'll be delighted if he stays here because I think he's a vital part of our team and I'm happy to have him."