Owning a football club is taking a toll on Ryan Reynolds' wallet.
Wrexham, the Welsh team bought by Reynolds and fellow Hollywood actor Rob McElhenney in 2021, released their latest financial results on Thursday, with outstanding figures owed to celebrities rising to nearly £9 million ($11.4 million). reported that it did.
This is up from 3.7 million pounds ($4.67 million) for the same period last year, which ended in June 2022.
The club said its future prospects were positive, with revenue increasing from about £6 million (about $750 million) to about £10.5 million (about $13.3 million), but losses amounted to about £2.9 million (about $13.3 million). 3.66 million dollars) to 5.1 million pounds (approximately 6.4 million dollars).
Reynolds and McElhenney bought Wrexham, one of the world's oldest soccer teams, for $2.5 million while the club was in the fifth tier of the English game.
They have since been promoted to the English Football League and are bidding to promote the team to League One, the third division, with the aim of achieving consecutive promotions.
Wrexham sit third in League Two and have a home game against leaders Mansfield on Friday. At the end of the season, the top three teams will be automatically promoted and the next four teams will participate in the play-offs for the final promotion spot. Wrexham are currently three points behind fourth-placed MK Dons.
Wrexham stated that the club's loss was “considered necessary to enable the club to achieve its full potential in the shortest possible time”.
“The club is under no immediate pressure to repay these loans at the expense of the progress we are trying to achieve,” Wrexham said, adding: “The club is not under any immediate pressure to repay these loans at the expense of the progress we are trying to achieve. Further financial support will be provided/secured to support the project.”
These projects include increasing the capacity of the Racecourse Ground Stadium; Wrexham regularly attract crowds of over 10,000, more than three times the number before the takeover, an impressive figure for a fourth-tier team.
Mr Wrexham said: “The financial losses the club has suffered since the acquisition should not be repeated. The income generated by the club is sufficient to cover the club's operating costs going forward.”
Wrexham expects sales to increase due to the “continued popularity of Welcome to Wrexham, an immersive documentary about Reynolds and McElhenney's journey as football owners” and the expected increase in sales in the EFL. of income. On growing up.
