Wrexham lost £5million in the year of their promotion to the English Football League and now owe nearly £9m to Hollywood owners Rob McElhenney and Ryan Reynolds.
But turnover doubled to almost £10.5m and Wrexham say financial losses suffered since McElhenney and Reynolds’ takeover in February 2021 should not be repeated due to the income now generated by the League Two club.
“The amount owed to The RR McReynolds Company, LLC (owned by McElhenney and Reynolds) at the year-end was £8.977m (2022: £3.714m),” read a Wrexham statement.
“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.
“These losses were deemed necessary to allow the club to maximise its full potential in the shortest time practically possible.
“The club is under no immediate pressure to repay these loans at the expense of the progress we seek to achieve and further financial support will be provided/secured to support the capital expenditure projects the club is currently planning, which includes increasing the capacity of The Racecourse Ground and the development of a training facility for all the club’s teams.
“The year-on-year income comparisons since the takeover, show the potential of the club.
“These will significantly increase again for the year ending June 30, 2024, following promotion and the continued popularity of Welcome to Wrexham.”
Wrexham ended a 15-year absence from the EFL last April by winning the National League, while the women’s team also won promotion to the top tier of Welsh football.
Turnover increased from £5.972m to £10.478m in the year ending June 30, 2023, but losses were up from £2.913m to £5.113m.
Wrexham payroll rose from just over £4m to nearly £7m, offsetting increased income in retail operation, sponsorship and advertising and football revenue due to the Dragons reaching the fourth round of the FA Cup.
The club has attracted widespread global interest following two successful seasons of the FX documentary series Welcome to Wrexham.
Phil Parkinson’s side are chasing a second successive promotion and are currently third in League Two with seven games to play.
Al-Khaleej 0-1 Al-Nassr: Ronaldo misfires on return as Laporte nets winner
Cristiano Ronaldo returned from suspension but failed to find the net as Al-Nassr secured a 1-0 win over Al-Khaleej on Saturday, with Aymeric Laporte coming up with the decisive goal.
Ronaldo was in action for the first time since being sent off for an elbow in a 2-1 Saudi Super Cup loss to Al-Hilal earlier this month, with his initial two-match ban being reduced to one on appeal.
He missed three good chances as Al-Nassr threatened to fall further behind runaway Saudi Pro League leaders Al-Hilal, but former Manchester City defender Laporte spared his blushes by nodding Marcelo Brozovic's deep free-kick into the bottom-left corner with 68 minutes gone.
Al-Nassr remain nine points adrift of Al-Hilal at the summit in spite of their win, with Jorge Jesus' team unbeaten through 28 games this season as they close in on a record-extending 18th title.
Data Debrief: Ronaldo misfires on return
Ronaldo was presented with the Saudi Pro League's Player of the Month award for March ahead of kick-off, having scored four goals in three league appearances last month.
However, his sights were off on Saturday as he failed to net despite three of the visitors' four big chances, as defined by Opta, falling his way. He led all players on the pitch for expected goals (1.27 xG), shots (five), shots on target (three) and touches in the area (nine) without reward.
Huddersfield all but relegated from Championship while League Two play-off spots decided
Huddersfield Town saw their relegation from the Championship all but confirmed after a 1-1 draw with fellow strugglers Birmingham City on Saturday.
The Terriers avoided a defeat that would have seen them relegated on Saturday, but even a win on the final day over promotion hopefuls Ipswich Town will not be enough unless they overcome a huge goal difference of 15 goals with Plymouth Argyle.
Birmingham remain in the other relegation place and now must beat Norwich City to stand a chance of staying up with Sheffield Wednesday, Plymouth and Blackburn Rovers also still in danger.
At the other end of the table, the Canaries dropped points in a 2-2 draw with Swansea City, leaving the door open for Hull City, who face Ipswich Town later today.
Huddersfield Town all but relegated from Championship while League Two play-off fate is decided
Huddersfield Town saw their relegation all but confirmed after a 1-1 draw with fellows strugglers Birmingham City.
The Terriers avoided a defeat that would have seen them relegated on Saturday, but even a win on the final day over promotion hopefuls Ipswich Town will not be enough unless they overcome a huge goal difference of 15 goals with Plymouth Argyle.
Birmingham remain in the other relegation place and now must beat Norwich City to stand a chance of staying up with Sheffield Wednesday, Plymouth and Blackburn Rovers also still in danger.
At the other end of the table, the Canaries dropped points in a 2-2 draw with Swansea City, leaving the door open for Hull City, who face Ipswich Town later today.
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