Ryan Reynolds owed nearly $17m as Wrexham’s crazy spending revealed

Wrexham now owe over $17 million AUD (nearly £9 million) to Hollywood owners Rob McElhenney and Ryan Reynolds after losing £5 million in the year of their promotion to the English Football League, the Welsh club announced on Friday morning (AEDT).

The latest financial statement comes after executive director Humphrey Ker claimed in December that Reynolds and McElhenney were “losing a tonne of money”.

Turnover, however, doubled to almost £10.5m and Wrexham said financial losses suffered since McElhenney and Reynolds’ takeover in February 2021 were unlikely to be repeated due to the income now generated by the League Two club.

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“The amount owed to The RR McReynolds Company, LLC (owned by McElhenney and Reynolds) at the year-end was £8.977m (2022: £3.714m),” read a Wrexham statement.

“The financial losses suffered by the club since the takeover shouldn’t be repeated, with income generated by the club now sufficient to meet the operational costs of the club going forward.

“These losses were deemed necessary to allow the club to maximise its full potential in the shortest time practically possible.”

Wrexham, now competing in the fourth tier of the English Football League, added: “The club is under no immediate pressure to repay these loans at the expense of the progress we seek to achieve and further financial support will be provided/secured to support the capital expenditure projects the club is currently planning, which includes increasing the capacity of The Racecourse Ground and the development of a training facility for all the club’s teams.

“The year-on-year