During their promotion-winning season from the National League, Wrexham disbursed £6.9 million in wages, as disclosed in their latest financial statements revealing the extent of funding from the club’s Hollywood proprietors, Ryan Reynolds and Rob McElhenney.

The Welsh team clinched promotion as champions from the National League in the previous season with an outstanding tally of 111 points, narrowly surpassing Notts County for the sole automatic promotion spot.

Last year, Reynolds and McElhenney openly expressed their apprehension, stating they would have faced significant challenges if the club had failed to secure promotion to League Two.

McElhenney, speaking on the series Welcome To Wrexham, remarked, “From a financial standpoint, if we fail to achieve promotion this year, we are in a difficult position,” to which Reynolds concurred, “Absolutely, in trouble.”

“We’ve made substantial investments in building this club, including the stadium itself. Failure to secure promotion this year would render the club entirely unsustainable. Thus, the pressure has intensified, not only for us but also for the players on the field and the community. This year, promotion is imperative,” added McElhenney.

Wrexham’s Hollywood owners Rob McElhenney and Ryan Reynolds paid out £6.9m in wages during the club’s promotion season 

Wrexham’s latest accounts reveal the level of funding in their promotion season to the EFL

The urgency of the co-owners to secure promotion is evident in the club’s financial reports for the year ending June 30, 2023.

Wrexham incurred an overall deficit of £5.1 million during the National League season, setting a record for the division.

This figure surpassed the previous record loss of £4.8 million by Stockport County during their promotion season in 2022, and also marked a significant increase from Wrexham’s £2.9 million loss in the preceding campaign.

A substantial rise in the club’s wage expenditure was a contributing factor, with Wrexham disbursing £6.9 million for the financial year, averaging £132,600 per week.

The wage bill escalated by nearly £2.9 million from the previous season, when the club finished as runners-up to Stockport County and were defeated in the playoffs.

Since McElhenney and Reynolds acquired the club for £2 million in February 2021, turnover and revenue have witnessed a remarkable surge.

Turnover surged from £5.97 million to £10.48 million in the year ending June 30, 2023.

Wrexham were promoted as National League champions with a record points tally

The club ended a 15-year exile from the Football League after securing promotion last season

The club’s financial accounts highlighted the contribution of Wrexham’s overseas fanbase to the turnover increase.

Wrexham underscored a ‘remarkable’ surge in Rest of the World turnover to £2.58 million from £657,000 in the 2022 accounts, while UK turnover climbed to £7.8 million from £5.3 million.

Club director Humphrey Ker noted in the accounts that the club is keenly observing how this ratio evolves in the future.

Wrexham’s retail operations witnessed a surge from £3.43 million to £1.30 million in 2022, while sponsorship increased to £1.88 million from £1.05 million.

The club’s progression to the FA Cup fourth round contributed to football revenue climbing to £1.31 million from £0.531 million.

The League Two outfit highlighted that their year-on-year revenue growth demonstrates the club’s potential, asserting that this trend will further escalate post-promotion and due to the enduring popularity of Welcome to Wrexham.

Wrexham emphasized the need to effectively manage the transition when the Disney+ series concludes, ensuring they can still achieve their objectives based on the established legacy.

A third season of the show is scheduled for the upcoming month.

“The outstanding amount owed to The RR McReynolds Company, LLC (owned by the two actors) at the year-end was £8.98 million (2022: £3.71 million),” a statement from Wrexham indicated.

The Disney+ series Welcome to Wrexham has helped to increase their overseas fanbase

“The financial losses incurred by the club since the takeover should not be recurring, with the club’s generated income now adequate to cover operational expenses going forward.

“These losses were deemed necessary to expedite the club’s full potential within the shortest feasible timeframe.

“The club is not under immediate pressure to repay these loans at the expense of hindering our progress. Further financial backing will be arranged to support the capital projects currently in planning, including expanding The Racecourse Ground’s capacity and developing a training facility for all club teams.”

Wrexham is in contention for a second consecutive promotion, currently occupying automatic promotion positions in League Two with seven matches remaining this season.

The Red Dragons would be obligated to pay £207,500 to other clubs for player transfers if promotion is achieved this season.

Moreover, Wrexham might incur £509,710 in player contracts and bonuses should they secure a spot in League One.

Wrexham noted that additional bonuses might become payable in the event of promotion to the Championship in the future.