Wrexham AFC have posted record-breaking revenue figures of £26.7 million for the 12-month period ending June 2024 – a staggering 155% increase – but their latest accounts also confirm a financial loss of £2.7m despite the dramatic growth.
The surge in income is attributed heavily to the club’s soaring global profile since being taken over by Hollywood duo Ryan Reynolds and Rob McElhenney. Commercial income alone leapt from £1.9m to £13.2m, driven by sponsorship deals with international brands like United Airlines and HP, alongside the continued success of the Welcome to Wrexham documentary.
From screen to spreadsheet
Despite the huge rise in turnover, the club’s expenditure also increased significantly. The wage bill rose from £6.91m to £11m, while nearly £5m was spent on legal and professional services – a portion of which went to companies owned by Reynolds and McElhenney, who managed US-based commercial rights.
Promotion to League One came with its own financial implications. A total of £824,000 in bonus payments was triggered following the club’s second successive promotion, contributing to the overall loss. Nevertheless, Wrexham reduced their losses from the £5.1m recorded in 2023.
“The directors are taking the relevant action to ensure that the long-term sustainability of the club can be achieved and not anchored purely on playing success or the continuation of the Welcome to Wrexham documentary.”
Notably, loans worth £15m provided by the club’s celebrity owners were repaid during the financial year, aided by share sales and a fresh cash injection from minority investors, the Allyn family, based in New York.
Wrexham are currently undergoing a strategic review of their business model, which includes the development of a new 5,500-seat Kop stand at the Racecourse Ground, due to start construction in the summer. The review aims to ensure the club is not solely reliant on media exposure or footballing success.
The accounts also revealed that over half of the club’s revenue – 52.1% – now comes from overseas, particularly North America, where the documentary has built a loyal fanbase.
Writer’s view
Wrexham’s financial report is a snapshot of a club balancing showbiz appeal with footballing ambition. While the figures might raise eyebrows, the underlying investment in infrastructure and brand expansion suggest this isn’t a short-term sugar rush.
The loss is concerning but far from alarming – especially given the club’s upward trajectory on and off the pitch. When you consider Lincoln City lose around £3m per year (on a far lower turnover), it is actually comparable with other clubs in the division.
What matters now is whether they can sustain it without leaning solely on the stardust of Hollywood.
