Wrexham announce yet more losses after claims Ryan Reynolds & Rob McElhenney ‘losing a tonne of money’
WREXHAM have announced an increase in losses in their financial statements for the year ending June 30 2023.
The Red Dragons secured a return to the Football League as well as celebrating promotion for their women’s side during the previous campaign.
However, the club have now confirmed they suffered losses of £5.113million during the period.
Those losses are an increase from £2.913million the previous year.
It comes after executive director Humphrey Ker claimed in December that Ryan Reynolds and Rob McElhenney were “losing a tonne of money”.
The Hollywood actors and Wrexham owners had recently installed a new £250,000 temporary stand at the Racecourse Ground.
Opened just before Christmas, the temporary stand holds 2,289 fans and was added to the Town End.
As well as the losses, Wrexham have also announced an increased turnover to £10.478million from £5.972million in 2022.
This comes after increases in retail, sponsorship and revenue from the club’s 2022/23 FA Cup run.
Wrexham reached the fourth round of the competition for the first time since 2000, taking then Championship side Sheffield United to a replay.
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The financial statement also outlined an increase in payroll to just under £7million.
Meanwhile, The R.R. McReynolds Company, LLC are now owed £8.977million, up from £3.714million.
A club statement explained: “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.”
Wrexham are currently on course for a second consecutive promotion this season.
Phil Parkinson’s side sit third in League Two with seven matches remaining, three points ahead of fourth placed MK Dons.
They could even move level on points with league leaders Mansfield when they meet at the Racecourse Ground on Friday.