Ryan Reynolds and Rob McElhenney have lost a staggering £3m in a year since taking over at Wrexham. But the Hollywood actors have vowed to continue undeterred despite the financial setback.
The Conference National side released a statement on their website on Friday disclosing the club’s financial report for the 12 months leading up to the end of last June, which showed a loss of £2.914m in that period.
Wrexham’s report, which was sent to Companies House, showed that the majority of the losses were down to a hike in player wages and football costs. These losses come despite a 404% increase in turnover since the change in ownership from £1.478m to £5.972m. The majority of which came from matchday income, kit and sponsorship.
Matchday income accounted for £2.65m, retail sales in the club shop and online raised £1.303m while sponsorship and advertising made £1.053m. However, the Directors have confirmed that they will continue to fund the club going forward.
Reynolds and McElhenney originally bought the club for £2m in 2021 in one of the most high-profile football takeovers in recent years. Their journey has been documented in the sports docuseries ‘Welcome to Wrexham’, available on Disney plus.
And the pair are hoping this will help improve the Welsh team’s finances. “We would like to thank the players and staff at the club for their unwavering support during the period, which included fully embracing the documentary into their everyday lives,” read a statement from Wrexham AFC Limited.
“The positive impact of our Welcome to Wrexham documentary will be reflected in the next financial statement and is providing the club with a platform to market itself across the globe.
“We remain committed to playing a full part in the life of the club and making a positive difference, in every way, for the benefit of everyone in this wonderful place we have taken to our hearts.”
The directors also revealed that in the year to June 2022, the firm gave a loan of £3.67m to the club, which included the funds to buy the freehold of the Racecourse ground as well as £1.2m of investment in the form of share.
They added that there was “no immediate pressure” to repay the loans as they want the club to become self-sufficient.
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