Wednesday, March 16, 2022

Nine Seasons Of Profit For Maidstone

Maidstone United, currently 2nd in the National South League, have recorded a profit for the ninth season in a row.

It's probably a record for teams at this level. In any case to stay in profit during Covid is some record in itself.

The profit for the year ended June 30th 2021 was £131,000. This was achieved despite the club losing out when Lottery money was distributed in October 2020. 

Given their gates the club thinks it was short-changed by around £100,000. 

In 2012 Maidstone moved to the Gallagher Stadium and has made a profit ever since. 

Co-owner Terry Casey said: "We are delighted to report another profitable year as we approach the 10th anniversary of returning home to the wonderful Gallagher Stadium.

"This keeps the club healthy financially and provides a solid base from which our teams can perform at the highest level possible.

"It also enables us to look again at projects to improve and expand the stadium for the comfort of our supporters."

The club has been well supported by its shareholders. They are owed £2,765,000. But this is less than the value of land owned by the club and the stadium.