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Under the ownership of hollywood stars Ryan Reynolds and Rob McElhenney, Wrexham are just one step away from Premier League promotion after three consecutive promotions from the lower leagues.
Wrexham AFC have scripted yet another remarkable chapter in their extraordinary rise under Ryan Reynolds and Rob McElhenney, securing promotion to the Championship just four years after the Hollywood duo took charge.
Their latest milestone—a 3-0 win over Charlton—lifted the Welsh club into the second tier of English football for the first time in over two decades, one step away from the Premier League.
It’s a feat no other club has achieved before: three straight promotions from the fifth to the second tier in as many years, rewriting the history books along the way.
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As the final whistle sounded, fans stormed the pitch, flares lit the air, and club captain James McClean was hoisted above a sea of jubilant supporters. In the stands, Reynolds wiped away tears while McElhenney soaked in the emotion with wide-eyed awe.
From National League Obscurity to Championship Dreams
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Wrexham’s meteoric rise began in February 2021 when they were languishing in the National League, having spent 15 seasons in the fifth tier after a 2008 relegation following a spell in administration.
Fast forward to 2025, and the club has climbed from 100th to 46th in the English football pyramid—a transformation few could have imagined.
Off the pitch, Wrexham’s progress has been no less staggering. According to a detailed report by The Athletic, The club’s 2023-24 financial statements reveal revenue soared to £26.7 million—up 154% from the previous season and an all-time record for a fourth-tier club.
Even among League One clubs, Wrexham’s income would have ranked second-highest ever for a non-parachute payment side, narrowly behind Leeds United’s £27.4m in 2009-10.
Despite such income, the club still posted a pre-tax loss of £2.7 million. However, that represented a significant 47% reduction from the previous year.
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Much of the outgoings were linked to increased commercial activity and general inflation—operating expenses beyond staffing alone rose sharply to £16.1 million.
That figure exceeded what 10 Championship clubs spent in the same category last year, underscoring just how abnormal Wrexham’s financial profile has become.
Payroll, Profit, and Perspective
Wages also surged 59%, rising from £6.9 million to £11 million. Yet thanks to booming revenues, the wage-to-revenue ratio dropped from 66% to a more sustainable 41%. The club’s ability to manage costs while still pushing for promotion has set it apart from its peers: six League Two clubs reported greater losses, including champions Stockport County, who posted a £7 million deficit.
Without the £0.8m cost of promotion-triggered bonuses and add-ons, Wrexham’s pre-tax loss would have been even lower—outperforming several of their League Two rivals financially despite their spending.
Owners’ Impact: Hollywood Backing, Smart Structuring
Reynolds and McElhenney initially bought the club for £1, with the understanding that at least £2 million would be invested. By June 2023, direct funding had surpassed £12 million, with Wrexham owing £9 million in shareholder loans.
In 2023-24, additional funding dropped to £1.7 million—the lowest since the takeover—thanks to strong internal revenues.
Still, the total input since their arrival has now reached £14.1 million, with £10.7 million of that sitting on the balance sheet as interest-bearing debt.
The ownership structure has evolved, too. Shares were transferred to Wrexham Holdings LLC, set up in Delaware, likely in preparation for minority stake sales.
Indeed, a five per cent stake was sold to a U.S. consortium led by Al Tylis and Sam Porter—who also own shares in Mexico’s Club Necaxa.
That deal also saw Reynolds and McElhenney take a reciprocal stake in Necaxa, and the partnership later expanded to include Colombian side La Equidad.
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The financial landscape shifted further in 2024-25 with the introduction of Red Dragon Ventures LLC and Wrexham Scope LLC, the latter backed by the billionaire Allyn Family.
In October 2024, Wrexham raised £11.3 million in equity, with total equity raised during the current season reaching £28.7 million.
Of that, £15 million went toward paying off loans to R.R. McReynolds, with the remaining £13.7 million earmarked for operational costs, a bigger wage bill, and infrastructure projects—including a new pitch and continued work on the Kop Stand.
Wrexham’s rise is no longer just a feel-good footballing story—it’s now a case study in sporting ambition, brand growth, and off-field execution. What began with a £1 transaction and a documentary series has evolved into a financial and competitive juggernaut.
Should they secure one more promotion, Wrexham will find themselves in the Premier League—the richest league in the world—and perhaps the most audacious football story in modern times will become even more surreal.
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