Ryan Reynolds and Rob McElhenney are owed nearly £9million by Wrexham football club – after the Hollywood stars helped the Welsh side’s value to rocket by £7million since buying it.
The Welsh team lost £5million in the year of their promotion to the English Football League (EFL) but turnover has since doubled to almost £10.5million.
The Hollywood stars bought the League Two club for £2million in February 2021.
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 £8.977million (2022: £3.714million),’ 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.
Ryan Reynolds (right) and Rob McElhenney (left) are owed nearly £9million by Wrexham football club
The Hollywood stars bought the League Two club for £2million in February 2021
The Welsh club’s profile has grown significantly since Reynolds and McElhenney (pictured) arrived
‘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 £5.972million to £10.478million in the year ending June 30 2023, but losses were up from £2.913million to £5.113million, the club reported.
Reynolds bought the League Two club with McElhenney for £2million in February 2021
Reynolds and McElhenney during the Vanarama National League match between Wrexham and Notts County at the Glyndr University Racecourse
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.
The Welsh club’s profile has grown significantly since Reynolds and McElhenney arrived, not least because of the success of the ‘Welcome to Wrexham’ documentary.
Rob McElhenneyRyan Reynolds
