Ryan Reynolds and Rob McElhenney’s journey as owners of Wrexham AFC has been a tale of passion, ambition, and relentless dedication. Since purchasing the historic Welsh football club in February 2021, the Hollywood duo has overseen a dramatic transformation, propelling the Red Dragons to back-to-back promotions and capturing global attention through their hit documentary series, Welcome to Wrexham.
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However, as much as the duo has brought success and revitalized the club, a recent analysis reveals they’ve incurred significant financial losses in the process. Football finance expert Kieran Maguire estimates that Reynolds and McElhenney have lost nearly £20 million since taking over Wrexham—a stark reminder of the financial challenges that come with owning a lower-league football club.
The Initial Investment
Reynolds and McElhenney acquired Wrexham in 2021 with a vision to restore the club’s glory days and build a global brand. Their acquisition followed overwhelming support from the Wrexham Supporters Trust, with over 2,000 members voting in favor of the deal.
To demonstrate their commitment, the pair immediately injected £2 million into the club, a move that laid the foundation for future success. This initial investment signaled their intent to take Wrexham forward and showcased their seriousness about the project.
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Back-to-Back Promotions
Under their stewardship, Wrexham achieved remarkable success. In the 2021–22 season, the club earned promotion to the Football League, marking the end of a 15-year stint in the National League. In the following season, they secured another promotion, climbing to League One.
This on-pitch success was fueled by significant investment in players and infrastructure. Wrexham became an attractive destination for footballers, with reports of players dropping down from higher divisions to join the club, thanks to competitive wages. Maguire estimates that during their time in the National League, Wrexham paid an average of £3,000 per week in player wages, with some earning double that amount—a figure unheard of in non-league football.
Financial Losses Despite Growing Revenue
Despite the global attention and increased revenue, Reynolds and McElhenney have faced financial challenges. Between 2021 and 2023, Wrexham incurred losses of approximately £8 million. When factoring in their additional investments in the club—including upgrades to the Racecourse Ground and other facilities—the overall losses are estimated to be between £18 million and £20 million.
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However, Wrexham’s revenue growth has been impressive. The club’s income quadrupled from £2.5 million in 2019 to £10.5 million in 2023, thanks to lucrative sponsorship deals with brands like TikTok, United Airlines, and Reynolds’ own Aviation Gin. Additionally, the success of the Welcome to Wrexham series brought significant exposure, further boosting ticket and merchandise sales.
Investments in Infrastructure
Beyond player wages, Reynolds and McElhenney have made significant investments to enhance the club’s infrastructure. In 2022, they initiated the purchase of the Racecourse Ground from Wrexham University, ensuring the club’s historic home remained under their control. They’ve also poured resources into upgrading stadium facilities, creating a better experience for fans and players alike.
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The Allyn Family Partnership
In October 2024, the Allyn family of Skaneateles joined as minority owners, partnering with Reynolds and McElhenney. The duo described the Allyn family as “the type of partners we will need for this amazing endeavor,” highlighting their commitment to ensuring the long-term sustainability of the club.
A Profitable Future?
Despite the financial losses, Maguire believes that Reynolds and McElhenney could turn a profit if they were to sell the club. The pair’s ownership has transformed Wrexham into a globally recognized brand, making the club an attractive investment opportunity.
“If they were to sell the club today, they would be able to recoup all of those losses,” Maguire explained. He also emphasized that the duo’s involvement is integral to the club’s appeal. “If I was looking to buy Wrexham Football Club, I would want to buy it with Reynolds and McElhenney involved as part of the deal for five years, because they are part of the brand of Wrexham.”
Genuine Passion and Long-Term Vision
One of the key reasons for the duo’s success is their genuine passion for the project. Reynolds and McElhenney have embraced Wrexham wholeheartedly, forging a strong bond with fans and the local community.
“It looks really genuine in terms of the enjoyment and the support that they get from the relationship with the club,” Maguire noted. “They are lifelong fans, so they would want to keep that relationship.”
Balancing Ambition and Sustainability
As Wrexham aims for a third consecutive promotion, Reynolds and McElhenney must navigate the fine line between ambition and sustainability. Competing in higher divisions brings increased costs, but it also opens the door to greater revenue opportunities, including larger TV deals and sponsorships.
The duo’s willingness to invest in the club’s future demonstrates their commitment to creating a legacy that extends beyond financial gain.
Ryan Reynolds and Rob McElhenney’s journey with Wrexham AFC is a story of vision, passion, and perseverance. While their financial losses are substantial, they have successfully revived a historic club, captured the hearts of fans worldwide, and created a blueprint for how sports ownership can transcend traditional boundaries.
As the duo continues their mission to bring success to Wrexham, one thing is clear: they are building something far greater than a football club—they are creating a legacy of hope, pride, and inspiration for generations to come.
