Ryan Reynolds Labels Wrexham Takeover as ‘Financially Irresponsible Endeavor’ Days After Recording $6.4 Million in Losses

It was just a season ago that Wrexham was celebrating their rise to League Two. But beyond Ryan Reynolds and Rob McElhenney’s expectations, the Welsh club achieved their second consecutive promotion as they are moving up to League One. But with success, came significant setbacks, financially, to be specific. As the Welsh club endured staggering losses of over $6.4 million, owner Ryan Reynolds didn’t mince his words, labeling the situation as ‘absolute idiocy on paper.’

On the occasion of the Welcome to Wrexham Season 3 release, Reynolds alongside Rob McElhenney discussed their Wrexham backstory on the Dan Patrick Show. While explaining how the Red Dragons’ story remains ‘evergreen,’ the Deadpool star revealed how the first step to buy the club remains unforgettable in his memory. Both actors took the ‘insane‘ decision in the middle of the pandemic. 

“We had sort of assumed stewardship of this club before ever touching a blade of grass in the Racecourse, which is just the most financially irresponsible endeavor you would ever possibly find,” said Reynolds. “It’s just absolute idiocy on paper but we don’t know that much about the financial investment necessary,” he continued. Yet, Reynolds said that emotional investment has been the love of both actors throughout their adult lives. 

“Emotional investments can kind of create that moat around something and I feel that moat is around Wrexham and it is special for that reason,” added the Canadian-born actor. Despite the Hollywood owners’ decision being deemed risky, their love for the club eventually compelled them to purchase the club outright. However, their hasty decision might have come at a price, $6.5 million, to be precise. 

Wrexham endured heavy losses but is expected to bounce back!

On Thursday, Wrexham shared its financial numbers. Per Sportico, despite increased revenue, they bore a net loss of $6.4 million. Interestingly, payroll expenses rose by 71% to $6.9 million. However, the Welsh side asserted that the losses were ‘deemed necessary,’ allowing the club to ‘maximize its full potential in the shortest time practically possible.’ The Red Dragons insisted that such losses won’t recur, as they now generate sufficient income to cover operational costs. 

In fact, significant growth has been witnessed since Reynolds and McElhenney acquired the club in 2020. Revenue soared by 75% to $13 million for the year ending June 30, 2023, with retail merchandise leading at $4.3 million, a nearly 200% increase. Likewise, sponsorship revenue rose by 79% to $2.4 million, and matchday revenue increased by 18% to $3.9 million. Furthermore, Phil Parkinson’s side’s surprise FA Cup run tripled soccer revenue to $1.7 million. 

As they say, “To win big, you have to be willing to lose big.” Clearly, with two back-to-back promotions, Ryan Reynolds and Rob McElhenney are ready to lift the club to new heights.