Importance Score: 35 / 100 🔵
Wrexham AFC Scores Record Revenue Boost Amid US Popularity Surge
Wrexham, the Welsh football club co-owned by Hollywood personalities Ryan Reynolds and Rob McElhenney, has announced a record revenue of £26.7 million. This significant financial achievement represents a 155% increase compared to the previous year, fueled by the club’s escalating popularity in the United States.
North American Market Drives Turnover
The club’s latest financial accounts, for the year ending June 30, 2024, reveal that over half (52.1%) of this record turnover was generated from outside Europe. Notably, North America emerged as the primary source of this international income.
This marks a substantial rise from the previous year, where only 24.6% of turnover originated from outside Europe. Wrexham attributed this remarkable growth to the widespread impact of the “Welcome to Wrexham” documentary series, currently filming its fourth season for Disney+.
Impact of “Welcome to Wrexham” Documentary
According to a statement released on the club’s website on Monday, the documentary itself does not directly generate revenue. However, it provides “incredible global exposure” for the Wrexham brand.
The club emphasized that the series offers a “unique marketing platform” that can be effectively monetized through increased TV exposure for their partners and enhanced brand recognition globally.
Commercial Revenue Skyrockets
The financial report highlighted a dramatic surge in commercial revenue, escalating from £1.83 million in the preceding accounts to £13.18 million in the latest figures. This substantial growth underscores the increasing commercial appeal of Wrexham AFC.
Wrexham also noted the success of their new global membership scheme, with 25% of all club memberships now originating from overseas, further demonstrating their expanding international fanbase and appeal, especially in the US market.
Financial Results and Future Investments
Despite the revenue surge, increased operational costs contributed to an overall loss of £2.73 million. However, this represents an improvement compared to the £5.11 million loss recorded in 2022-23.
Subsequent to the accounting period, Wrexham confirmed the repayment of £15.02 million in shareholder loans and interest to Reynolds and McElhenney’s company.
The club statement explained that “This action will help facilitate the raising of funding to meet the costs of the club’s capital projects going forward.”
Promotion Hopes Remain High
On the field, Wrexham’s prospects for a third consecutive promotion remain strong. The club currently occupies second position in League One with seven games remaining in the season, keeping their ambitions of reaching higher divisions alive.