31 March 2023 , 17:34
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Ryan Reynolds and Rob McIlhenney's Hollywood ownership helped Wrexham bring in close to £6million in the space of a year - but the club still finished on a loss of nearly £3m.
On Friday, as the financial year came to a close, the Welsh side published a report which detailed just how much money the two actors had pumped in during the period between June 2021 and June 2022. While Wrexham recouped a staggering £5.972m - a 404 per cent increase compared to the previous 12 months - rising football costs of £3.94m resulted in an overall loss of £2.914m.
Reynolds and McElhenney completed their takeover in February 2021 and the club has since grown a unique global brand thanks to the pair's efforts. Last year, a documentary series entitled 'Welcome to Wrexham' was streamed on Disney Plus and boosted their worldwide audience, particularly in the United States. The club were also especially included in the popular FIFA 23 video game.
Wrexham will face Manchester United in a pre-season friendly this coming summer in San Diego,, epitomising their brand's growth in North America. Back in north-east Wales, Reynolds and McElhenney have been injecting cash to benefit the club on and off the pitch, such as redeveloping their home stadium and completing the recent signing of ex-Premier League goalkeeper Ben Foster.
Fortunately, their huge upturn in revenue promises a bright future for Wrexham, with matchday income accounting for an incredible £2.65m. As they currently sit second in the National League with seven games to go, aiming for promotion to the EFL, the Dragons have enjoyed jam-packed attendances and even welcomed second-tier outfit Sheffield United for a thrilling FA Cup tie in January.
Ryan Reynolds mispronounces name of new Wrexham signing in hilarious video
In a sign of Wrexham's appeal on the world stage, however, retail income totalled £1.303m, while sponsorship and advertising brought in £1.053m to the famous Racecourse Ground. The club issued a statement on March 31 which read: "The Annual Report and Financial Statements for the 12 months to June 30, 2022 (‘the period’) have been submitted to Companies House.
Ryan Reynolds and Rob McElhenney have owned Wrexham since February 2021 (Getty Images)"Turnover for the period was £5.972m, an increase of 404% from £1.478m. Of the £5.972m turnover, Matchday income accounted for £2.650m, Retail income £1.303m and Sponsorship/Advertising £1.053m. Football costs in the period were £3.94m, an increase of 294% from £1.34m.
"The loss for the period was £2.914m. The R.R. McReynolds Company LLC, introduced £3.67m of loan funding which included the funds to purchase the freehold of the Racecourse Ground and subscribed for equity in the sum of £1.2m. The Directors have confirmed that they will continue to fund the Club going forward."
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Former Premier League goalkeeper Ben Foster recently joined Wrexham (Getty Images)Wrexham were relegated from the EFL in 2008 but are now on the cusp of returning for the first time. Reynolds has openly admitted that his sights are set on achieving three further promotions and reaching the Premier League, and affirmed that he and McElhenney want to be the club's custodians for the 'rest of their lives'.
Meanwhile, speaking to BBC Radio 4's Today programme last August, McElhenney explained: "I thought, if you had a team that was in a low division but has the infrastructure because they've had success in the past, to move up those leagues over the course of four to five to six years, couldn't you theoretically take a team from the lowest league and bring them up to the top?
"A lot of people laughed, but a few people didn't and Ryan was one of those people. So I brought the idea to Ryan and said we should try to do this, see if we could find a club and try to advance them. At the beginning we thought let's see how long we can last and try and improve this club year after year after year, and then we'll see."