Wrexham, a soccer club based in Wales, has reported a significant rise in its financial debts, with nearly 9 million pounds ($11.4 million) owed to its celebrity owners, actors Ryan Reynolds and Rob McElhenney. The club’s latest financial accounts revealed a sharp increase from the previous year, showcasing the financial challenges faced by the Hollywood duo since their 2021 acquisition of the team.
Despite a rise in turnover from 6 million pounds ($7.5 million) to 10.5 million pounds ($13.3 million), Wrexham experienced mounting losses, reaching 5.1 million pounds ($6.4 million) in the latest financial year. The club’s journey under Reynolds and McElhenney’s ownership has seen Wrexham elevated from the fifth tier of English soccer to the English Football League, with aspirations for further advancement to League One.
Currently positioned third in League Two, Wrexham is aiming for back-to-back promotions, positioning the team for potential advancement to League One. The club’s strategic investments and ambitious goals have necessitated significant financial support, with ongoing projects such as stadium expansions reflecting the commitment to long-term growth and sustainability.
Wrexham’s success on the field, combined with the popularity of the documentary “Welcome to Wrexham,” chronicling the owners’ soccer venture, has bolstered the club’s revenue streams. The increase in spectator attendance, now exceeding 10,000 fans per game, underscores the transformative impact of Reynolds and McElhenney’s ownership on the club’s operations and community engagement.
In response to the financial challenges posed by the club’s recent losses, Wrexham remains optimistic about its future prospects, emphasizing the ongoing growth of its revenue streams and the continued support for capital expenditure projects. With a strategic focus on financial stability and operational self-sufficiency, Wrexham aims to navigate its current financial hurdles while pursuing its ambitious goals for on-field success and sustainable growth.