FILE - The low-level Welsh club which has gained global recognition after being bought by Hollywood duo Reynolds and Rob McElhenney, will play English Premier League side Chelsea on July 24. (AP Photo/Jon Super, File)


March 30, 2024

Canadian actor Ryan Reynolds is feeling the financial strain of owning a soccer club. The Welsh team Wrexham, purchased by Reynolds and fellow Hollywood actor Rob McElhenney in 2021, has revealed its latest financial figures. According to the released accounts, the club owes the celebrity owners nearly 9 million pounds ($11.4 million).

This amount marks a significant increase from the previous year's debt of 3.7 million pounds ($4.67 million), as reported for the financial year ending June 2022. Despite a rise in turnover from nearly 6 million pounds ($7.5 million) to 10.5 million pounds ($13.3 million), the club's losses also surged from 2.9 million pounds ($3.66 million) to 5.1 million pounds ($6.4 million).

Reynolds and McElhenney acquired Wrexham, one of the oldest soccer teams globally, for $2.5 million while it was competing in the English game's fifth tier. Since then, the club has progressed to the English Football League and is striving for consecutive promotions, aiming to reach the third-tier League One.

Currently positioned third in League Two, Wrexham faces a crucial match against league leader Mansfield. The top three teams earn automatic promotion, while the subsequent four teams compete in a playoff for the last promotion spot. Wrexham holds a three-point lead over fourth-place MK Dons with a game in hand.

The club attributes its increased losses to necessary investments aimed at maximizing its potential in a short timeframe. Despite the mounting debt, Wrexham insists it faces no immediate pressure to repay loans that could impede its progress. Additional financial support is expected to facilitate ongoing capital expenditure projects, including stadium expansion.

One such project involves increasing the capacity of the Racecourse Ground stadium, which has seen attendance soar since Reynolds and McElhenney took ownership. The club now regularly attracts crowds exceeding 10,000 spectators, a stark contrast to pre-takeover attendance figures for a fourth-tier team.

Wrexham expresses confidence in its ability to meet operational costs going forward, citing the popularity of the documentary "Welcome to Wrexham" and increased revenue from participating in the EFL. It anticipates continued growth in turnover as a result.

Reynolds and McElhenney's venture into soccer ownership has garnered widespread attention, with their involvement in Wrexham captivating fans and spectators alike. Despite the financial challenges, the duo remains committed to supporting the club's progress and achieving its long-term objectives within the sport.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

You may also like

Markets Brace for Turbulence and Recession Fears as Liberation Day Approaches

Investors are on edge as Liberation Day, set for April 2, nears. As the year's first quarter ends on a....

Tencent Invests €1.2B in Ubisoft Spin-Off to Expand Gaming Empire

Chinese tech giant Tencent has made a €1.2 billion ($1.25 billion) investment in a newly formed Ubisoft subsidiary, securing a....

Trump’s Auto Tariffs Hit Canada Hard: A Trade War Unfolds

The U.S. has imposed a 25% tariff on finished vehicles imported into the country, marking one of the most severe....

Quebec Budget 2025 -2026 Fights Trump Tariffs But Sinks Deeper Into Debt

Quebec's finance minister, Eric Girard, has unveiled a historic $165.8-billion budget, aiming to strengthen the province’s economy in response to....

Samsung TV Pioneer Han Jong-Hee Passed Away at 63

Samsung Electronics has lost one of its key leaders. Han Jong-Hee, the co-CEO who played a major role in shaping....

Trump Plans New Tariffs for Vehicles & Pharmaceuticals, Near Future

U.S. President Donald Trump has announced plans to impose tariffs on vehicles and pharmaceuticals, further expanding his aggressive trade policies.....

Key Business Events to Watch in Canada This Week

This week brings several major developments in the Canadian business world. From political campaigns to economic reports, here are the....

Hudson’s Bay Begins Liquidation, But Six Stores Are Spared

Hudson’s Bay, Canada’s oldest company, has received court approval to start liquidating most of its stores. The Ontario Superior Court....

U.S. Tariffs Could be an Uphill Battle for Canada’s Greenhouse Industry

A fresh wave of U.S. tariffs on Canadian imports has sent shockwaves through Canada’s greenhouse sector, which heavily depends on....

Google’s $32B Wiz Deal: A Game-Changer for Cloud Security

Google has announced its biggest-ever acquisition, agreeing to buy cybersecurity firm Wiz for $32 billion in cash. This massive deal....

PepsiCo To Acquire Poppi to Expand in Healthy Soda Market

PepsiCo announced on Monday that it will acquire the prebiotic soda brand Poppi for $1.95 billion. The move comes as....

Hudson’s Bay May Start Its Stores Liquidation As Early As Tuesday

Toronto – Hudson’s Bay, the retail giant, is battling for survival as it seeks court approval to begin liquidating its....