And its understood that the Lacey deal could scupper the £5 million loan deal with the American investment company Chestnut Hill Ventures, leading The Lions Trust to issue the following statement:
"Millwall is under attack. Under attack by an Isle of Man based property developer.
Graham Lacey has bought 14% of the share vote. We strongly believe that he wants to build over The Den. It has happened at other clubs and it can happen to us.
YOU with other Millwall shareholders can fight back though.
We all know Millwall needs money to keep going. Chestnut Hill Ventures (the American investors) have offered to lend us £5 million. They have history with sport and regeneration. They are our best bet.
If Lacey gets enough votes at the EGM on 28 March he can stop the Americans lending us money.
The small shareholders like you and me can stop him. If you got a notice about the EGM it is VITAL that you sign the Proxy Form in favour of 'the chairman of the meeting' and send it back. It only needs a signature and a stamp.
This must be done before 26 March. If you support Millwall and own shares send it back now. If we lose this vote we will lose Millwall. Together we can win."