Maidstone United report pre-tax profit of £588,000 after last season’s run to the FA Cup fifth round | Club remains up for sale with co-owners ‘widening search’ for right investors

Maidstone United’s history-making FA Cup run has seen them report record profits for the past financial year.

The Stones reported a pre-tax profit of £588,000 for the period covering July 1 2023 to June 30 2024, having made a loss of £203,000 the year before.

It was made possible by prize money and broadcast income of £629,000 from their run to the FA Cup fifth round, a figure that helps them cover underlying losses for the second season running.

The profits have enabled the Stones to replace their 3G pitch at the Gallagher Stadium, costing £214,000, and launch other projects around the ground, with the help of Football Foundation grants.

Player bonuses and corporation taxes have also been paid from this money.

Turnover is also at a record level, reaching £2.74 million, up from £2.08 million.

Stones co-owner Oliver Ash said: “It was an amazing season on the field to the delight of our supporters and the additional income has been very welcome to the club, as it enables playing budgets to be kept at the highest possible level.

“Sometimes we have to remind ourselves that the club was effectively bankrupt when we took over in 2010.

“Since then we have all enjoyed an incredible ride with some unforgettable moments on the field and we now have a strong, stable, community club, of which all supporters can be immensely proud.

“In terms of financing the business it is simple: we aim to operate profitably so that we can constitute a reserve, mainly for capital projects, while ensuring that every surplus pound generated by the club’s operations goes towards the playing budgets.”

Ash and co-owner Terry Casey have been open to selling the club for several years.

In a new approach, the door has been opened to minority investors.

“We