The Wrexham story is an incredible one, especially for fans of the club, but it has cost Rob McElhenney and Ryan Reynolds a pretty penny so far.
In 2020, Rob McElhenney and Ryan Reynolds made the bold move of purchasing Wrexham AFC, with the aim of helping the club finally escape their exile in the National League.
Fast forward four years, and the Red Dragons are now flying high in League One and could be on track for a third-successive promotion this term. It’s safe to say, in many ways, Rob and Ryan’s dreams are coming true at Wrexham.
However, despite all the on-field success of Phil Parkinson’s side, the financial situation behind the scenes paints a worrying picture.
Rob and Ryan have lost £20m as part of Wrexham project
Speaking on the Price of Football podcast, finance expert Kieran Maguire discussed the incredible amount of money the Wrexham owners have put into the club since 2020, and how much of an impact it has had on them in terms of financial losses.
Maguire said: “Wrexham’s revenue between 2019-2023, all those years in the National League, it quadrupled from £2.5m to £10.5m. Looking at the losses between 2020 and 2023, though, they lost £8m, and that was despite all the benefits and globalisation of the brand and international sponsors.”
It’s no surprise to learn why Rob and Ryan have lost so much money, though, with the incredible amount they invested in player wages a big contributing factor.
Maguire added: “They were paying an average of £3,000 a week. Some high-profile players might have been on twice that, which is unheard of in the National League. Players were willing to drop down divisions to join Wrexham.
“It’s a professional career, you follow the money. Wexham were offering competitive wages for up to two divisions higher.”
While an £8m loss may sound bad but bearable, the true nature of Rob and Ryan’s losses is far more costly, with Maguire estimating they may have actually sunk around £20m into the project in total.
“In terms of actual money put into the club, I think you can probably at least double that. They’re down somewhere in the region of £18-20m with my overall estimate,” he said. “But if they were to sell the club today, they could recoup all those losses.”
Will Rob and Ryan ever sell Wrexham?
Rob and Ryan’s ultimate goal is to steer Wrexham all the way to the Premier League one day, but they may have to wait a while to see that achieved.
In the meantime, the pair have sought extra investment from the Allyn family, back in October of last year, and by the sounds of their losses, that was a shrewd move.
But, whether Rob and Ryan would ever abandon their project, even in spite of all the money it is costing them, remains to be seen. One thing is clear, they obviously love Wrexham and the community that has embraced them, and while the team is successful, why would they walk away?
There is a belief that, if they were to sell Wrexham, Rob and Ryan couldn’t simply leave the club anyway, as they are now intrinsic to the brand of the football club. So, like it or not, the Hollywood duo are here to stay for the long-term.