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Sport

Maidstone United's success story at the Gallagher Stadium reflected in latest financial figures

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 14:00, 29 September 2015

Maidstone United have reported a third year of six-figure profits at the Gallagher Stadium.

In financial results released on Tuesday, United revealed turnover was up by £100,000 to £1.36million.

Gross profit was £245,000, down slightly on the £289,000 achieved last year.

Maidstone co-owners Terry Casey and Oliver Ash and chief executive Bill Williams Picture: Martin Apps

Player wages were up but still accounted for less than 20% of United's turnover.

The club made about £200,000 from last season's FA Cup run but that money, along with spare cash from profits and reserves, was reinvested in the £650,000 project to raise capacity at the Gallagher to 3,000 for National League South.

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Meeting the costs of further expansion as they bid to return to the Football League is a big challenge, with co-owner Oliver Ash calling on Maidstone businesses to get behind the club.

Mr Ash said: "We are pleased with the results of our third season's trading.

"We will continue to be prudent in order to ensure the club is secure and sustainable.

"We see in these figures further evidence of the success of the 3G model in building an attractive football and social facility, which is appreciated by thousands of local people.

“We now need to build up cash resources even faster if we are to develop the stadium further. It will be a hugely expensive project.

"In particular we now need more local companies to come on board together with our existing business partners and share the benefits from the positive image we now have as a club and business.”

Maidstone United's Gallagher Stadium Pic John Westhrop

Fellow co-owner Terry Casey said: “The growth is evident from the season ticket sales which have exceeded 1,000 and the attendances for league matches which are up more than 10% on last season.

"With the fifth anniversary of our takeover approaching, we can look back with satisfaction at what has been achieved and the sound base that we have to move this club on to the next level.”

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