Hollywood actors Ryan Reynolds and Rob McElhenney are feeling the financial strain of owning a soccer club, as evidenced by recently released accounts for Wrexham, the Welsh team they purchased in 2021. The amount owed to celebrities has risen to nearly 9 million pounds ($11.4 million), up from 3.7 million pounds ($4.67 million) from the previous year. While turnover has increased from nearly 6 million pounds ($7.5 million) to 10.5 million pounds ($13.3 million), the club’s losses have also grown to 5.1 million pounds ($6.4 million) from 2.9 million pounds ($3.66 million) for the year ending June 2022.
Since Reynolds and McElhenney took over Wrexham, the team has been promoted to the English Football League and is currently bidding for back-to-back promotions that would elevate them to third-tier League One. Wrexham is currently ranked third in League Two, with a crucial home game against leader Mansfield on Friday. The top three teams in the league at the end of the season are automatically promoted, while the next four enter a playoff for one final promotion spot.
Wrexham justified the club’s losses as necessary for maximizing its potential in the shortest time possible. The club stated that it is not under immediate pressure to repay any loans at the expense of progress and plans to provide further financial support to back capital expenditure projects, such as increasing the capacity of its Racecourse Ground stadium. With crowd numbers consistently exceeding 10,000 spectators, more than triple the attendance before the takeover, Wrexham remains optimistic about future growth and sustainability.
Despite the financial challenges faced since the ownership takeover, Wrexham expressed confidence that the club’s income generation will be sufficient to cover operational costs moving forward. The continued popularity of the documentary “Welcome to Wrexham,” which follows the journey of Reynolds and McElhenney as soccer owners, along with increased earnings in the EFL, are cited as contributing factors. Wrexham believes that the momentum will carry on growing and prevent the recurrence of significant financial losses in the future.
Looking towards the future, Wrexham acknowledges the importance of the ongoing support from fans and stakeholders in sustaining the club’s operations and growth. With the team’s promising trajectory in the league standings and ambitious plans for facility improvements, Wrexham remains committed to leveraging its position in the English Football League to achieve continued success both on and off the pitch. The owners, Reynolds and McElhenney, are dedicated to steering the club towards sustained financial stability and competitive performance in the evolving landscape of professional soccer.
