Ryan Reynolds’ Wrexham team owes him millions. What’s the financial hit?
Global News
Reynolds and McElhenney purchased Wrexham, one of the world’s oldest soccer teams, for $2.5 million while the club was in the fifth tier of the English game.
Owning a soccer club is hitting Ryan Reynolds in the wallet.
Wrexham, the Welsh team bought by Reynolds and fellow Hollywood actor Rob McElhenney in 2021, released its accounts for the latest financial year on Thursday and reported that the amount owed to celebrities has risen to nearly nine million pounds ($11.4 million USD).
That was up from 3.7 million pounds ($4.67 million USD) from the previous year, ending June 2022.
While the club said turnover rose from nearly 6 million pounds ($7.5 million USD) to 10.5 million pounds ($13.3 million USD) and that future prospects are positive, its losses increased to 5.1 million pounds ($6.4 million USD) from 2.9 million pounds ($3.66 million USD).
Reynolds and McElhenney purchased Wrexham, one of the world’s oldest soccer teams, for $2.5 million while the club was in the fifth tier of the English game.
It has since been promoted to the English Football League and is bidding for back-to-back promotions, which would take the team to third-tier League One.
Wrexham said the club’s losses were “deemed necessary to allow the club to maximize its full potential in the shortest time practically possible.”