Hollywood actors Ryan Reynolds and Rob McElhenney are feeling the financial strain of owning a soccer club, as Wrexham, the Welsh team they purchased in 2021, has reported an increase in the amount owed to celebrities to nearly 9 million pounds ($11.4 million). This is up from 3.7 million pounds ($4.67 million) from the previous year, ending June 2022.
Despite an increase in turnover from nearly 6 million pounds ($7.5 million) to 10.5 million pounds ($13.3 million), Wrexham's losses have also risen to 5.1 million pounds ($6.4 million) from 2.9 million pounds ($3.66 million). The club stated that the losses were necessary to maximize its potential in the shortest time possible and that further financial support will be provided to support capital expenditure projects, such as increasing the capacity of its Racecourse Ground stadium.
Wrexham, one of the world's oldest soccer teams, has seen success on the field since the takeover, being promoted to the English Football League and currently sitting in third place in League Two. The team is vying for back-to-back promotions, which would take them to third-tier League One.
Despite the financial challenges, Wrexham remains optimistic about its future prospects, citing the continued popularity of the documentary "Welcome to Wrexham" and increased income from the EFL as factors that will contribute to continued growth in turnover. The club believes that the income generated will be sufficient to meet operational costs going forward.
In conclusion, while owning a soccer club has proven to be a financial burden for Ryan Reynolds and Rob McElhenney, Wrexham remains hopeful that their investments will pay off in the long run as the team continues to progress on and off the field.