Maidstone United report pre-tax loss of more than £200,000 for last season as club relegated from National League

Maidstone United lost more than £200,000 during their National League relegation season.

It’s the first time the club have reported a loss since the Gallagher Stadium opened in 2012.

Publishing their financial results for the period July 2022 to June 2023, the Stones made a pre-tax loss of £202,967.

The club budgeted for a lower mid-table finish in the National League after winning the National South title.

But on-field struggles hit them in the pocket, as Maidstone finished bottom of the league.

They cited poor recruitment and poor performances, leading to lower attendances, among the reasons for the losses.

The Stones also highlighted the cost of medical bills during a terrible run of injuries, reduced beer sales due to National League drinking laws, additional transport costs and stadium maintenance.

Next year’s figures will be a different story, however, with the club making hundreds of thousands of pounds from their run to the last 16 of the FA Cup, with a trip to Coventry next up on February 26.

They’ve made more than £350,000 in prize money alone, not to mention £235,000 from UK TV rights for two live games, plus their share of gate receipts.

“The medium-term picture is actually quite favourable,” said club co-owner Terry Casey. “Over the past 11 seasons the business has generated about £1.8 million of profits altogether.

“Alongside loans from the shareholders of about £2,600,000 and various grants from the Football Foundation and Premier League Stadium Fund, this means more than £5 million has been invested into building, expanding, and improving the stadium, in order to comply with league rules and offer a comfortable experience for supporters.

“This current season looks even more favourable than usual as we are