McGhee, who infamously left The Royals to take up the manager's post at Leicester City nearly nine years ago, is said to have phoned Reading Chairman John Madejski and expressed an interest in replacing Alan Pardew before attending an interview.
Whilst at the interview it is alleged he bad mouthed Millwall Football Club and was prepared to walk out on The Lions in order to finish what he started at Reading. According to McGhee, he has taken Millwall as far as he can and believes that the Lions small attendances are a hinderance in improving their standing.
Madejski, however, was reluctant to take McGhee on following his decision to quit The Royals when they were on the verge of promotion to the Premiership.
In what has been seen by many as a make or break year for the Lions, it has been rumoured that Mark McGhee will not have his contract renewed by Chairman Theo Paphitis at the end of the season if the Lions fails to get promoted. If the above is true, it will go a long way to explainging Millwall's recent lacklustre performances and poor tactical decisions.