Wrexham FC, the Welsh football club owned by Hollywood actors Ryan Reynolds and Rob McElhenney, has unveiled revealing financial figures showcasing a significant rise in their wage bill. As per the latest accounts, the club’s annual wage bill for the year ending June 2024 has surged to a whopping £11 million, a marked increase from the previous year’s figure of £6.9 million. The financial documents also shed light on the club’s growing success in the US market, highlighting a notable shift in revenue sources from the UK to international markets.
The club’s overall loss for the 12-month period stood at £2.7 million, a reduction from the £5.1 million deficit recorded in the previous year. Notably, approximately £824,000 of the recent losses were attributed to bonuses triggered by Wrexham’s promotion to League One in April 2024. After securing back-to-back promotions, Wrexham’s squad, led by manager Phil Parkinson, currently occupies the second spot in the League One standings, aiming for a further climb to the Championship.
The club’s workforce has seen an expansion from 199 to 255 employees, now including the women’s team, which transitioned to a semi-professional status last season. The financial reports also emphasise the impact of Wrexham’s surging popularity in the US, with more than half of the club’s annual turnover now stemming from international markets, particularly North America. The club’s turnover witnessed a remarkable 155% increase to reach £26.7 million, with 52.1% of revenue generated from overseas markets, compared to 47.5% from the UK and the rest from Europe.
Wrexham’s popularity in the US has been further boosted by the success of the ‘Welcome to Wrexham’ documentary series. The growing viewership of the show has resulted in lucrative commercial partnerships, including a shirt sponsorship deal with United Airlines and securing the stadium naming rights with SToK Cold Brew Coffee. These sponsorships have significantly bolstered the club’s sponsorship revenue, soaring from £1.9 million to an impressive £13.2 million. Notably, in Los Angeles, Josh Anthony, who runs the Local Pundit fan channel on YouTube, has been closely monitoring Wrexham’s journey and attributes their stateside success to the club’s underdog narrative and the warm reception from the Wrexham community towards international visitors.
The Emmy-winning TV documentary has not only garnered global attention for Wrexham but also brought a notable financial boost following the takeover by Reynolds and McElhenney in February 2021. With the documentary’s fourth season currently in production, the club is focusing on ensuring long-term stability beyond the show’s continuation. The directors are working towards enhancing the club’s business plan, including increasing the capacity at the Racecourse Ground and refining the staffing structure for maximising opportunities.
In conclusion, Wrexham FC’s financial revelations underline a remarkable period of growth and success for the club, both on and off the field. With a sharp rise in turnover driven by international markets, coupled with strategic commercial partnerships, Wrexham is on a trajectory of sustained prosperity and global recognition. The club’s journey, fuelled by the passion of its owners and the unwavering support of fans worldwide, exemplifies a compelling narrative of resilience and ambition in the world of football.