Millwall sitting on big cash goldmine as new agreement is reached - It may put Leicester City off | OneFootball

Mihailo Ivanovic has signed a new contract with the Lions after summer speculation from the Foxes.

Millwall have handed themselves a boost to their fortunes by tying down prized striker Mihailo Ivanovic to a fresh contract, and it may put Leicester City off pursuing the Serb in the future.

The 20-year-old moved to The Den last summer for a fee of £2.8m from Vojvodina and scored 13 goals in 40 appearances across all competitions in 24/25.

As first exclusively revealed by FLW, it has now been confirmed that Ivanovic has committed his future to the East London side.

Even though it doesn't state how long the new contract is in length, this leaves Millwall sitting firmly on a cash goldmine because Ivanovic has long been admired by league rivals Leicester City.

After months of speculation, Millwall’s insistence on driving a hard bargain is clearer than ever — any club hopeful of poaching Ivanovic will now have to pay exactly what Millwall want, and that may make Leicester think twice.

Mihailo Ivanovic's new Millwall deal raises the bar for Leicester City and other potential suitors

Reports of Leicester’s interest in Ivanovic lingered deep into the transfer window. Sky Sports listed the Serbian international among the late-window options for Foxes boss Marti Cifuentes as he looked to bolster his frontline after Bilal El Khannouss travelled to Stuttgart to undergo a medical.

However, some may recall previous warnings issued to would-be suitors. According to Football Insider, the Lions’ hierarchy made it clear that the price tag for Ivanovic would be over the £10m mark.

Journalist Alan Nixon claimed £15m in an update via his Patreon, but regardless of the actual amount, it was clear Millwall were not prepared to settle for anything insulting.

With Ivanovic now penning new terms at Millwall, the scenario becomes even more challenging for potential buyers. This is because contract renewals normally extend a player’s value, both in the eyes of the market and in the protection it offers to selling clubs.

There is every chance that the East Midlands outfit could reignite their interest in him though, given the fact that captain Ricardo Pereira, who plays at right-back, and winger Abdul Fatawu are the club's joint-top scorers so far with two each. Jordan Ayew is the only recognised striker at the club that has scored for the Foxes in the league so far.

Why Mihailo Ivanovic is still central to Millwall's plans in the Championship after a slow start to 25/26

Even though he's failed to score any goals this season in seven matches, it’s still fair to say Ivanovic was the heartbeat of the Lions attack in 24/25.

During his debut season in England, the former Sampdoria loanee managed 12 goals in 37 second-tier games, which made him the club's top scorer — dwarfing both Duncan Watmore and Josh Coburn's tally, who had five each.

Director of Football, Steve Gallen, said upon the contract being announced that he was "pleased Mihailo has signed a long-term contract with the club".

"We had a lot of enquiries and offers for Mihailo over the summer, but we didn't accept them," he continued.

"This new contract is just a reward for a very good first season in English football and we hope he keeps improving and scoring goals."

In truth, Ivanovic is a player Millwall would’ve known could shape their future. Whether leading the line on the pitch or providing a windfall in the transfer market down the line.

The decision to tie him down then is not just about fending off interest from Leicester or any other club. It is a fairly big statement, one that says Millwall have every intention of backing their man and reaping the rewards, sporting or financial.

Having been promoted from League One at the end of 16/17, the Lions are in their ninth consecutive Championship season and clubs like them are always under constant pressure to sell and reinvest.

Fan reactions from The Den faithful regarding the contract have been mixed with one supporter suggesting the deal is the best possible outcome for Ivanovic.

While another tweeted that it just guarantees the club more money in the winter window. However, in order for the player to give Millwall a big payday, he needs to obviously start getting himself on the scoresheet again. That may come now that his new contract has been sorted, and you'd be inclined to think he'd be on some prettier wages. As per Capology estimates, Ivanovic was earning £2k-a-week on his old contract, which placed him among the club's lowest earners.

Regardless of what happens in January or beyond, quite simply, anyone who wants to buy Mihailo Ivanovic will need to pay a premium — which could even be more than the apparent £15m wanted in the summer if he starts finding the back of the net.

That might be enough to even put Leicester off pursuing a deal, despite their need for more firepower.