Rob McElhenney knew just the man to ask for the money
Ryan Reynolds and Rob McElhenney’s unlikely friendship began online when Reynolds messaged McElhenney praising his work in It’s Always Sunny In Philadelphia. McElhenney’s interest in soccer ownership grew after watching the soccer documentary “Sunderland ‘Til I Die,” and soon, owning Wrexham AFC became his focus. He soon realized what he needed now was money, movie star money. He went back through his messages and contacted Reynolds. The rest is history.
The Hollywood pair first met while filming the promo
The plan to purchase Wrexham AFC was put together through phone calls, FaceTime and messages, and the proposed purchase, along with the accompanying FX documentary, was all set to go by early 2021. The one thing missing from such an important deal was the new owners had never actually met. Their first meeting face-to-face came during the shooting of the FX promotional video.
Before the takeover could happen, they had to convince fans to sell
Back in 2004, Wrexham AFC were placed into administration, effectively bankruptcy. Years of uncertainty followed with new owners trying and failing to salvage the historic club. In 2011, the Wrexham Supporters’ Trust, a group made up of, and financed by fans, took control of the club, essentially saving it from liquidation. Reynolds and McElhenney convinced the trust to sell, with 98.6% of the Trust members agreeing.
Reynolds and McElhenney had to spend big to attract players
The purchase of Wrexham AFC initially cost the pair a reported $2.78 million. This included ownership of the club and its famous home ground, The Racecourse. The Racecourse is the oldest international soccer stadium, hosting Wales’ first home international game in 1877. To attract newer, better players to the team, higher wage incentives had to be offered, further raising the spending amount.
While revenue is up, Wrexham AFC are still losing millions of dollars
To date, it is believed Reynolds and McElhenney have put more than $12 million into Wrexham AFC. Turnover has massively increased to around $7.5 million, yet the club is still losing $3.7 million annually. A major factor in this is the wage bill. Wrexham AFC’s wage bill is more than double that of other teams in the same league.
Despite the club losing money, the FX deal is paying off
The importance of FX’s involvement with making a documentary around the purchase of the club can’t be understated. It simply wouldn’t have happened without it. The financial input from FX has allowed Reynolds and McElhenney to keep the club running at a loss. The FX deal has generated a reported $11 million for the pair, offsetting the losses of their initial investment.
The Racecourse proved complicated to purchase
The pair’s initial investment of $2.7 million saw them wholly own the club and its stadium, The Racecourse. Ownership of the stadium itself wouldn’t be enough, however, as the freehold of the ground the stadium was built on was still held by Wrexham Glyndwr University. This complicated legality saw Reynolds and McElhenney have to pay a reported $4.5 million to gain full control of the stadium.
A star goalkeeper documented Wrexham games on TikTok
During the 2022-2023 season, Wrexham AFC were looking at a real chance of promotion. This season was covered by FX and, no spoilers, but it was a rollercoaster ride. In an effort to secure promotion, the club signed former England and Manchester United keeper Ben Foster, who documented the whole journey on TikTok by placing a Go-Pro in his own goal-net during matches.
The value of the club’s brand has soared
One of the first major changes seen at Wrexham AFC after the purchase was the branding of the club. Chinese social media site TikTok became the team’s main shirt sponsor and Reynold’s own Aviation Gin also struck a deal with the club. In June 2023, ahead of the new season, United Airlines was announced as the new shirt sponsor. Having movie star owners has certainly attracted sponsors.
Reynolds and McElhenney are totally hands-on
With Reynolds living in New York and McElhenney in Los Angeles, their involvement and physical presence at the club is to be applauded. In a recent interview with Goal, former goalkeeper Ben Foster revealed of the pair that “They’re there quite a lot, they come to one in every three matches – the two of them.” This and post-match WhatsApp calls with players ensures that all at Wrexham know they are in safe hands.
