Wrexham football club owe Rob McElhenney and Ryan Reynold nearly £9 million

However, turnover doubled to almost £10.5m and Wrexham say financial losses suffered should not be repeated due to the income now generated.

Phil Blanche
Thursday 28 March 2024 18:08 GMT
Wrexham co-owners Rob McElhenney and Ryan Reynolds (PA)
Wrexham co-owners Rob McElhenney and Ryan Reynolds (PA) (PA Archive)

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Wrexham AFC owe nearly £9 million to owners Hollywood actors Rob McElhenney and Ryan Reynolds, the club has said.

The Welsh team lost £5 million in the year of their promotion to the English Football League (EFL) but turnover has since doubled to almost £10.5 million.

Wrexham said financial losses suffered since the takeover in February 2021 by It’s Always Sunny In Philadelphia creator McElhenney and Deadpool actor Reynolds should not be repeated due to the income now generated by the League Two club.

“The amount owed to The RR McReynolds Company, LLC (owned by the two actors) at the year-end was £8.977m (2022: £3.714m),” a statement from Wrexham said.

“The financial losses suffered by the club since the takeover shouldn’t be repeated, with income generated by the club now sufficient to meet the operational costs of the club going forward.

“These losses were deemed necessary to allow the club to maximise its full potential in the shortest time practically possible.

“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.

“The year-on-year income comparisons since the takeover, show the potential of the club.

“These will significantly increase again for the year-ending June 30 2024, following promotion and the continued popularity of Welcome To Wrexham.”

Last April, the men’s team won the National League, ending a 15-year absence from the EFL, while the women’s team also won promotion to the top tier of Welsh football.

Turnover increased from £5.972 million to £10.478 million in the year ending June 30 2023, but losses were up from £2.913 million to £5.113 million, the club reported.

Wrexham are currently third in the League Two table and aiming for promotion to League One when the season ends in May.

Under McElhenney and Reynolds’ ownership, two series have been released of FX show Welcome To Wrexham, which has generated international interest in the club. A third season is planned for next month.

In 2022, they were honoured by the Welsh Government, the Football Association of Wales and S4C for promoting the country and its language with the Dragon Award.

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