Wrexham’s turnover has jumped massively thanks to the Welsh side’s Hollywood owners Ryan Reynolds and Rob McElhenney and the success of the Welcome to Wrexham documentary
Wrexham have increased their annual turnover to an astonishing £26.7million thanks to the global attention attracted by Ryan Reynolds and Rob McElhenney. The Welsh side saw the figure sky rocket by 155 per cent in the financial year ending in June 2024, compared to around £10.5m in 2013.
Club officials have largely attributed the eye-watering amount, which is believed to be a record for a team which was then in League Two, to the exposure generated by the Welcome to Wrexham documentary. The popularity of the series has also helped Wrexham seal lucrative commercial deals with the likes of United Airlines and HP, delivering a sharp increase in sponsorship revenue from £1.9m to £13.2m.
However, despite the impressive sums, documents seen by Mirror Football show Wrexham still managed to post a loss of £2.7m during the 12-month period. That figure is down from the £5.1m deficit recorded in 2023, with the club’s latest accounts showing that £824,000 of the most recent losses were incurred due to bonuses triggered by Phil Parkinson’s side gaining promotion to League One.
In a further significant development, it’s separately been confirmed that loans worth £15m provided by Reynolds and McElhenney have been repaid in the last few months. It follows the arrival of the New York-based Allyn family as new minority investors in October and several large share issues.
Reflecting on a prosperous period for the club last term, an overview of the accounts state: “The 2023/24 season was one that brought success on the pitch for the men’s team who achieved promotion from EFL League Two, having achieved promotion from the National League the season before.
“Following the early announcement that the Welcome to Wrexham documentary would be continued for a third series to cover the events on and off the pitch for the 2023/24 season, this enabled the club to achieve further commercial growth.
“The documentary, while not delivering any direct financial return for the club, provides us with a marketing platform that can be monetised through the delivery of TV exposure for our partners and is our ‘point of difference’.”
The club added: “Turnover for the year was £26.725m (2023: £10.478m) which we believe to be a record for any club in League Two. As noted below the popularity of Welcome to Wrexham and the engagement by its viewers are the biggest factors in the 155 per cent growth, followed by the additional revenue generated from the EFL over those received in the National League.”
One of the reasons for the club posting a loss was a rise in its wage bill from £6.91m for the previous 12 months to just over £11m. Wrexham also spent almost £5m on legal and professional fees, some of which was paid to two companies owned by Reynolds and McElhenney.
Officials said the money was given to More Better Industries and Maximum Effort to cover the cost of marketing Welcome to Wrexham and overseeing US-based commercial deals. The accounts also reveal that 52.1 per cent of Wrexham’s annual turnover now comes from overseas – mainly North America – compared to 47.5 per cent from the UK and the remainder from Europe.
Wrexham’s Emmy-winning TV series has provided the club with a huge financial boost since Reynolds and McElhenney bought the club in February 2021, with filming currently taking place for the fourth season. But a review of the owners’ long term strategy is now planned, with one eye on ensuring the club remains sustainable if the documentary is not renewed further.
Expanding the Racecourse Ground stadium is seen as a key part of the blueprint after proposals for a new 5,500-capacity Kop stand were recently approved by Wrexham Council. Work is due to start following the end of the current football season, with Wrexham now second in the League One table, and on the brink of a possible third successive promotion.
Officials said: “A strategic review of the club’s mission statement will be undertaken, following the success to date of the club, however the principles won’t materially change. The specific emphasis remains the same, to deliver success on the pitch and take each of the club’s senior teams through their respective divisions at the earliest opportunity.”
They added: “The directors are taking the relevant action to ensure that the long-term sustainability of the club can be achieved and not anchored purely on playing success or the continuation of the Welcome to Wrexham documentary. Increasing the capacity at the Racecourse Ground is a fundamental requirement of creating a long-term business plan for the club along with putting in place a staffing structure of suitably qualified individuals that will enable the maximising of all the opportunities available to us.”
Wrexham’s latest set of accounts are expected to be published in full early next week.
Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.
