Wrexham have published their financial accounts for last season and are adamant that increased financial losses ‘shouldn’t be repeated’ moving forward.
The last few years have been truly unbelievable for Wrexham fans.
Imagine being told five years ago that two Hollywood celebrities would swoop in and purchase the club.
That would have sounded beyond all realms of possibility but Rob McElhenney and Ryan Reynolds completed their takeover in 2021 and have taken the club on a totally new path.
Now attracting fans from all over the world and emerging as headline news, Wrexham are on an unbelievable rise.
That has come with some significant spending and Wrexham have now published the financial statement for the 2022-23 season.
Wrexham financial statement
Wrexham have now confirmed that the club’s turnover rose massively for the 2022-23 season.
Turnover was £10.478million, almost double the amount from the 2021-22 campaign, with income rising in many areas.
Retail, sponsorship and advertising and football revenue all increased, showing the progress of the club on and off the field.
The flip side is that Wrexham made a loss of £5.113million last season, up from £2.913million in the previous season.
Wrexham’s payroll rose by almost £3million whilst the money owed to The R. R. McReynolds Company stood at nearly £9million, up from £3.7million.
The club are confident that the losses incurred ‘shouldn’t be repeated’ moving forward.
Wrexham claim that the money coming into the club is sufficient to meet operational costs and that the losses were simply to maximise the club’s potential in a short space of time.
Crucially, it’s added that there is ‘no immediate pressure’ to repay the loans to McElhenney and Reynolds.
Wrexham are now projecting another rise in income for the 2024 books, believing that the popularity of ‘Welcome to Wrexham’ will be a factor.
It’s also stated that Wrexham’s income will increase ‘following promotion’, with the club seemingly confident of securing a spot in League One.
The season is coming towards its end and Wrexham are in a great position to move up another league with back-to-back promotions.
A spot in League One isn’t secured just yet though and some Wrexham fans will be fearing that the club have tempted fate a little!
That is just the natural worry of a supporter but it looks like Wrexham are in good hands and that the coming years will be just as exciting as those gone by recently.