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Wrexham says it owes celebrity owners US$11m

Tan KW
Publish date: Fri, 29 Mar 2024, 06:15 PM
Tan KW
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League Two side Wrexham owe their celebrity owners Ryan Reynolds and Rob McElhenney around £9 million , the fourth-tier Welsh club said.

Wrexham, bought by the actors in 2021, released their accounts for the financial year ended in June 2023 on Thursday. The club owed their owners almost £4 million at the end of previous year.

The club reported an increase of 75% in revenue from approximately to £10.5 million from £6 million pounds. However, its loss also deepened to £5.1 million from £2.9 million.

"The club is under no immediate pressure to repay these loans at the expense of the progress we seek to achieve," Wrexham said in a statement.

"Further financial support will be provided/secured to support the capital expenditure projects the club is currently planning."

Wrexham were promoted to English Football League's League Two as the 2022-23 champions of the fifth-tier National League. They are third in League Two this season and in contention for a promotion to third-tier League One.

 


  - Reuters

 

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