Revealed: Scale of Ryan Reynolds and Rob McElhenney’s funding into Wrexham laid bare by the club’s astronomical wage bill… after the Hollywood owners admitted they were ‘f****d without National League promotion

Wrexham paid £6.9m in National League wages during their promotion season as the level of funding from the club’s Hollywood owners, Ryan Reynolds and Rob McElhenney, was revealed in their latest accounts.

The Welsh side were promoted to National League champions last season with a record 111 points after beating Notts County in a head-to-head battle for the only automatic spot.

Reynolds and McElhenney admitted last year that they would have been ‘f*****’ if the club had failed to gain promotion to League Two.

McElhenney said on the Welcome To Wrexham series: ‘From a financial perspective, if we don’t get promoted this year we’re f*****’, to which Reynolds replied: ‘Yep, f***’.

‘We have invested heavily in building this club, the stadium itself, and if we don’t get promotion this year the club will be completely unsustainable.

“So it has really increased the pressure, not just for us, but for the players on the field, the people in the community. This year we have to get promoted.’

The co-owner’s desperation to secure promotion is set out in the club’s financial accounts for the year ending June 30, 2023.

Wrexham made a total loss of £5.1 million during the National League season, setting a record in the division.

The figure surpassed Stockport County’s previous record loss of £4.8 million in their 2022 promotion season, and also represented a significant increase on the £2.9 million loss suffered by Wrexham in the same campaign.

A large increase in the club’s wage bill contributed to this, with Wrexham paying out £6.9 million for the financial year, equating to £132,600 per week.

The wage bill increased by almost £2.9 million from the previous season, when the club finished second in Stockport County and were defeated in the play-offs.

Sales and income have risen dramatically since Always Sunny In Philadelphia creator McElhenney and Deadpool actor Reynolds bought the club for £2 million in February 2021.

Turnover increased from £5.972 million to £10.478 million in the year ended June 30, 2023.

The club’s reports detailed how Wrexham’s overseas fan base has contributed to the increase in turnover.

Wrexham highlighted a ‘staggering’ increase in turnover in the rest of the world from £657,000 in its 2022 accounts to £2.582 million, with UK turnover rising from £5.3 million to £7.8 million.

Club director Humphrey Ker wrote in the accounts that the club ‘awaits with interest to see how this relationship will change in the future’.

Wrexham’s retail business saw an increase of £3,430 million from £1,304 million in 2022, while sponsorship increased from £1,053 million to £1,883 million.

The club’s participation in the fourth round of the FA Cup saw football revenues grow from £0.531 million to £1.314 million.

The League Two side said their year-on-year income increases demonstrate the club’s potential, stating that this will ‘increase significantly again following promotion and the continued popularity of Welcome to Wrexham’.

Wrexham noted that the club must be aware that when the Disney+ series comes to an end, it can “effectively manage the change and still achieve our objectives based on the legacy that has been created.”

A third season of the show is scheduled to air next month.

“The amount owed to The RR McReynolds Company, LLC (owned by the two actors) at the end of the year was £8.977 million (2022: £3.714 million),” a statement from Wrexham said.

“The financial losses the club has suffered since the takeover must not be repeated as the income generated by the club is now sufficient to cover the club’s operating costs in the future.

‘These losses were deemed necessary to enable the club to maximize its full potential in the shortest possible time.

‘The club is not under any immediate pressure to repay these loans at the expense of the progress we want to achieve and further financial support will be provided/secured to support the investment projects the club is currently planning, including increasing capacity of the club. Racecourse Ground and the development of a training facility for all the club’s teams.’

Wrexham are vying for a second successive promotion with the club in the automatic promotion places in League Two, with seven games remaining this season.

The Red Dragons would have to pay £207,500 to other clubs for the transfer of players if the club were to gain promotion this season.

In addition, Wrexham could pay out £509,710 as part of player contracts and bonuses if they secure a place in League One.

Wrexham noted that further bonuses may have to be paid if the club is promoted to the Championship in the future.