Paul Ince, starting his first season as Milton Keynes Dons manager, made nine permanent summer signings.

MK Dons also won their first national knockout competition, with a 2–0 victory over Grimsby Town at Wembley Stadium in the 2008 Football League Trophy Final.

[citation needed] Ahead of 2007–08, MK Dons released Adolfo Baines, Lee Harper, Junior Lewis, Nick Rizzo, Jamie Smith and Oliver Thorne.

Players sold were Paul Butler to Chester City, Dominic Blizzard to Stockport County, Gary Smith to Brentford, Izale McLeod to Charlton Athletic and Clive Platt to Colchester United.

[citation needed] On 29 September 2007 Milton Keynes Dons reached first place and stayed there for the rest of the season except for one game week.

Prior to the club's return to League One, the MK Dons released Drewe Broughton, Matt Carbon, Sam Collins, Liam Kelly, Jake Livermore and Kieran Murphy, while Mustapha Carayol, Lloyd Dyer and Gareth Edds left on their own accord for Torquay United, Leicester City and Tranmere Rovers.