Wrexham Football Club Financial Update
Wrexham Football Club faced financial challenges amounting to £5 million (€5.85 million) during the year of their promotion to the English Football League. Currently, they owe nearly £9 million to their Hollywood owners, Rob McElhenney and Ryan Reynolds.
Financial Overview
- Turnover doubled to almost £10.5 million.
- Financial losses incurred since the takeover in February 2021 are not expected to be repeated due to increased income generated by the League Two club.
- The amount owed to The RR McReynolds Company, LLC at the year-end was £8.977 million.
Future Financial Plans
The club states that the losses suffered were necessary to maximize its potential in a short time frame. They are not under immediate pressure to repay loans, and further financial support will be secured for capital expenditure projects.
Income Growth and Expansion
Income comparisons since the takeover highlight the club’s potential, with significant increases expected for the year ending June 30, 2024. Plans include increasing the capacity of The Racecourse Ground and developing a training facility for all teams.
Recent Achievements
Wrexham ended a 15-year absence from the EFL by winning the National League last April. The women’s team also secured promotion to the top tier of Welsh football.
Financial Performance Details
- Turnover increased from £5.972 million to £10.478 million in the year ending June 30, 2023.
- Losses rose from £2.913 million to £5.113 million.
- Wrexham payroll increased from just over £4 million to nearly £7 million.
Global Interest and Sporting Success
The club has gained global attention following the success of the FX documentary series ‘Welcome to Wrexham.’ Currently, the team is aiming for a second successive promotion and is placed third in League Two with seven games remaining.
