The latest financial report unveiled by Wrexham football club on Thursday reveals fellow Hollywood actors Ryan Reynolds and Rob McElhenney are owed nearly 9 million pounds ($11.4 million), marking a dramatic escalation from the previous year’s burden of 3.7 million pounds ($4.67 million) by the close of June 2022.
Despite a promising uptick in turnover from nearly 6 million pounds ($7.5 million) to 10.5 million pounds ($13.3 million), the club’s losses soared to 5.1 million pounds ($6.4 million) from 2.9 million pounds ($3.66 million). This financial narrative underscores the ambitious journey Mr. Reynolds and Mr. McElhenney embarked upon when they acquired Wrexham, then a fifth-tier English team, for $2.5 million.
While the club acknowledges the substantial losses, it asserts that these investments are indispensable for realizing the football club’s full potential. Wrexham emphasizes a strategic approach, ensuring that financial obligations do not compromise the ongoing pursuit of progress.
“These losses were deemed necessary to allow the Club to maximize its full potential in the shortest time practically possible,” the statement reads in part.
“The Club is under no immediate pressure to repay these loans at the expense of the progress we seek to achieve and further financial support will be provided/secured to support the capital expenditure projects the Club is currently planning, which includes increasing the capacity of The Racecourse Ground and the development of a training facility for all the Club’s teams.”
With plans to enhance the Racecourse Ground stadium capacity, buoyed by a surge in spectator attendance post-acquisition, the club remains optimistic about its financial trajectory.
The club’s fortunes have seen a notable upturn, ascending to the English Football League and now eyeing consecutive promotions, potentially elevating them to League One. Positioned third in League Two, Wrexham’s impending clash against league leaders Mansfield on Friday carries significant implications, with automatic promotion at stake for the top three teams.
Third-Oldest Professional Football Club
Established in 1864, Wrexham AFC is the world’s third-oldest professional football club. According to the official Wrexham website, the club is steeped in glory, with a record 23 Welsh Cup triumphs and a legendary upset over Arsenal FC in the early ‘90s.Once a stalwart of England’s second-tier football in the 1970s, the club has since navigated a steady descent down the league hierarchy, finding itself entrenched in the fifth division. Amidst grueling battles against the likes of Barnet, Eastleigh, and Aldershot Town, Wrexham’s presence pales in comparison to the glitz of the Premier League.
Then came an unlikely bid from one of Hollywood’s biggest leading men and a comedic television star who launched a virtual presentation, wherein they pledged an immediate injection of over $2.5 million into the club, committed to constructing a new training facility, and vowed perpetual victories over arch-rivals Chester. Their acquisition received unanimous approval from the Wrexham Supporters Trust, who had held ownership of the club since 2011.
Ticket sales have soared to unprecedented heights, and in a groundbreaking move, Wrexham has made its mark in the virtual realm as the first-ever fifth-tier club to feature in the esteemed FIFA video game franchise following the takeover by Mr. Reynolds and Mr. McElhenney.
