Where Ryan Reynolds’ Wrexham rank financially in Championship as £8m boost nears
Wrexham’s stunning financial results would put them in a strong position to compete in the Championship if they gain promotion, according to a football finance expert
Wrexham’s stunning annual turnover of £26.7million would place them in the top half of the Championship in financial terms, it’s been revealed. The Welsh outfit, owned by Hollywood stars Ryan Reynolds and Rob McElhenney, published their accounts for the financial year ending June 30, 2024 on Monday.
The results show Wrexham witnessed a 155 per cent surge in turnover during the 12-month period, which covers the club’s promotion-winning season in League Two in 2023/24, up from approximately £10.5m the previous year. The jaw-dropping sum is higher than any other team in League Two and League One, and has been attributed to the publicity generated by the smash-hit Welcome to Wrexham documentary.
The series’ popularity has also enabled Wrexham to achieve a sharp rise in sponsorship revenue from £1.9m to £13.2m after securing deals with global giants such as United Airlines and HP. Despite the impressive figures, the Red Dragons still reported a loss of £2.7m, although this was lower than the £5.1m deficit recorded the year before.
Football finance expert Kieran Maguire has now disclosed that Wrexham’s sizeable income would place them just below former Premier League teams like Norwich and Stoke City in the upper reaches of the second tier. The University of Liverpool lecturer’s verdict bodes well for the future, with Phil Parkinson‘s side currently sitting in the second automatic promotion spot in League One.
Maguire, who presents the Price of Football podcast, believes Wrexham’s latest financial results would put them in a strong position to compete in the Championship if they go up. He said promotion would also deliver an £8m boost in the form of extra TV money.
Speaking to talkSPORT, Maguire said: “If we start with the money coming in, which is spectacular, Wrexham made three times as much money as any other club in League Two, more than any other club in League One, and they would actually be in the top half of the Championship.
“Therefore, they’re not that far behind the big hitters of the Championship, the likes of Stoke and Norwich and so on. It’s an incredible achievement in terms of bringing in the money and it’s their ability to become an international brand which has really driven this.
“I was teaching in Charlotte in Carolina last year, and the only football shirts I saw were those of Wrexham, which is an amazing achievement, and that’s on the back of the documentary. If they get promoted this year, that adds another £8million of TV money because they’ll be in the Championship TV deal.
“That would put them fairly close to all of the clubs, with the exception of those who are in receipt of parachute payments, in the Championship.”
Wrexham would be subject to financial fair play rules if they reach the Championship, restricting how much money they can lose. But Maguire said the £2.7m losses incurred by the club last year would not place them in danger of breaching profit and sustainability regulations (PSR).
Wrexham director Humphrey Ker recently revealed projections showing that wages would need to be quadrupled in order to compete in the second tier. Despite this, he expressed confidence in Reynolds and McElhenney’s ongoing commitment to the club after highlighting their telling reaction to the news.
Maguire added: “I think they are in a very strong position from a PSR point of view. They lost a wee bit of money last year, but it was only a wee bit. It was about £2.5m and they can lose £39m over three years when they get to the Championship.
“They’ve got the capacity to invest in players and to invest in improving the infrastructure, and I think they will be an exhilarating proposition to watch, because everybody’s eyes will be focused on them.
“They’ll be up against some really big teams who’ve just been relegated from the Premier League, whereas they can point to being in the National League two years ago.”
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