Ryan Reynolds Shocked by £10 Million Loss at Wrexham
Ryan Reynolds, the Hollywood actor and co-owner of Wrexham Football Club, has expressed his shock at the amount of money he and his business partner, Rob McElhenney, have lost since taking over the club. The duo acquired Wrexham in November 2020 when the team was in the National League. Despite narrowly missing out on promotion in their first season, Wrexham managed to secure a place in League Two last season.
Reynolds and McElhenney initially invested £2 million to purchase the club during the pandemic. However, they have since suffered a staggering loss of £10 million in their efforts to guide Wrexham up the leagues. This revelation came to light during the filming of the new documentary series, ‘Welcome To Wrexham,’ which chronicles their ownership of the club.
In a scene captured on camera, Shaun Harvey, the club’s advisor, informed Reynolds and McElhenney about the extent of their financial loss. Reynolds’s reaction was one of disbelief, exclaiming, “I’m going to throw up.” McElhenney, equally shocked, inquired about when they could expect to start making money from the club. Harvey assured them that the global appeal they had generated would offset the additional costs incurred. He emphasized that promotion to a higher league would increase the value of the club and attract additional sponsorship revenue.
Harvey also revealed that if Reynolds and McElhenney were to sell the club now, they would receive a significantly higher fee than the £10 million they had invested. This suggests that despite the financial setback, their ownership has increased the club’s overall value.
One area where the ownership could potentially generate more income is through the significant growth in Wrexham’s social media following. Since the takeover, the club’s social media following has increased by over 921%. This growth was further bolstered by a sponsorship deal with TikTok, which saw the platform become the club’s front-of-shirt sponsor. Within just seven months of joining TikTok in June 2021, Wrexham gained 100,000 followers. Currently, the club boasts over 1.4 million followers and has received over 16.9 million likes.
On the football front, Wrexham has made an impressive start to life in League Two this season. The team currently sits in third place in the table with 30 points from 16 matches, narrowly behind last year’s promotion rivals Notts County on goal difference. Wrexham’s next challenge will be facing Mansfield Town in the first round of the FA Cup, which will take place away from home.
Despite the financial challenges faced by Reynolds and McElhenney, their ownership of Wrexham has brought about positive developments for the club. The increased social media following and the potential for additional sponsorship revenue indicate that their investment may yield long-term benefits. As Wrexham continues to compete in League Two and participate in prestigious competitions like the FA Cup, the club’s profile is likely to grow, attracting further attention and potential revenue opportunities.
While Reynolds may have been taken aback by the extent of the financial loss, it is clear that he and McElhenney remain committed to the club’s success. Their involvement has injected new energy into Wrexham and has put the team on a promising trajectory. With their determination and the support of the fans, Wrexham could soon see a turnaround in their financial fortunes and achieve their ambitions on and off the pitch.
