Ryan Reynolds and Rob McElhenney owed huge sum by Wrexham as League Two high-flyers announce latest losses
WREXHAM owe owners Ryan Reynolds and Rob McElhenney a huge sum according to their latest financial statement.
The League Two high-flyers announced losses of £5.113million for the year ending June 30 2023.
Those losses are an increase from £2.913million the previous year.
Meanwhile, The R.R. McReynolds Company, LLC are now owed £8.977million.
That figure has increased from £3.714million following promotion to the Football League during the 2022/23 season.
Their National League triumph secured a return to League Two after 15 seasons in non-league.
The latest financial statement comes after executive director Humphrey Ker claimed in December that Reynolds and McElhenney were “losing a tonne of money”.
The Hollywood actors 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.
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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.
The financial statement also outlined an increase in payroll to just under £7million.
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.