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The board have been upset by Wise's increasing attacks on in-coming chairman Jeff Burnige and was widely quoted in yesterday's papers following remarks he made at a press conference following Millwall's emphatic win over Plymouth Argyle at The Den.
To make matters worse, Wise seemed unrepentant about his comments.
"I might have put my foot in it but so be it," said Wise. "I can't keep quiet for much longer. I just feel it's inside me at the present moment and it needs to come out because they have worked so hard, these lads, and they know that we are not far away but also they all know that we need a helping hand and they know that at the time that we needed it we didn't get too much."
"There's not much to discuss - the time's gone, nine games ago was the time. There are not the players out there to get and not on the money that we wish to try and give them."
Wise was particularly upset over the sale of striker Scott Dobie to Nottingham Forest last month and had a very public falling out with Burnige at the time, but the new chairman has resisted becoming embroiled in slanging match with his manager and remained silent over the issue.
However, Paphitis made it clear that Wise would be dealt with when he turned up for work this morning, stating: "I have seen the comments and I will catch up with Dennis later today to discuss them."
According to postings made by members of several key supporters' groups, an official statement is expected today, but as yet, nothing has been forthcoming from Millwall Football Club.