Wrexham have come a long way from the troubles they endured in the National League under previous owners.
Wrexham supporters are thankful that they even have a club after past financial troubles and were a little sceptical when they handed over the reigns to Ryan Reynolds and Rob McElhenney.
However, two successive promotions and on the verge of escaping League One, the Red Dragons could not be happier with their progress and Phil Parkinson is bringing joy on the pitch.
Off the pitch, chief executive Michael Williamson wants to improve the club’s infrastructure and after the latest financial figures, Wrexham have put themselves in a great position of strength.
Wrexham to announce record financial figures
As per the Leader, Wrexham are set to announce record financial figures revealing that the club has reached a record high turnover of £26.75m for the year ending June 30 2024.
That staggering figure is a huge increase from the previous 12 months turnover of £10.478m and shows the impact of the two successive promotions.
In further good news, the club have recorded a decreased in losses, down to £2.729m from the previous figure of £5.113m in 2023.
Finally, all loans have been repaid to R.R. McReynolds Company LLC, the figure was £15.02m and the Club is now free of all shareholder loans.
The report states: “Post 30 June 2024, the Club repaid the monies owed to The R.R. McReynolds Company LLC. This action will help facilitate the raising of funding to meet the costs of the Club’s capital projects going forward.”
Wrexham wages biggest expenditure, that will increase in Championship
According to the report, the biggest expenditure from the club was in the players’ wages and that figure rose from £6.910m in 2023 to £11.044m, accounting for a large proportion of the overall expenditure of £29.454m.
Should Wrexham make it to the Championship next season, that figure will rise once again with promotion clauses in current deals and with the recruitment of better quality players.
The popularity of the ‘Welcome to Wrexham’ documentary has been the biggest factor in the 155% growth in turnover and the club’s success on the pitch will only continue the interest in the tv show.
The Kop Stand expansion will further increase revenue in the coming seasons for the Red Dragons, the dream of financial stability for the North Wales club is becoming a reality once and for all.