Wrexham AFC Promoted for the Third Year in a Row, Finances Loom

⚽ Wrexham AFC, the British soccer club owned by Ryan Reynolds and Rob McElhenney, has earned its third consecutive promotion in England's pro soccer pyramid from EFL League One to the EFL (English Football League) Championship league, the second highest league behind the The Premier League!

Reynolds and McElhenney bought the club in 2021 for a mere $2.5m.

💰 In 2022-23, League One teams earned an average of $13m while EFL Championship teams averaged $41m in revenue! With the increase in potential revenue from new partners and opportunities, Wrexham will face some higher costs. The club has already confirmed an expansion to their home turf, the Racecourse Ground, to go from roughly 13,300 seats to 55,000! This capacity is much closer to Premier League teams.

In addition to this, player salaries will be expected to jump. In League One, the average salary was $265,000, whereas in the EFL Championship League that number jumps to $825,000 and more than $4m in the Premier League.

With higher coverage from media and a fourth season of the docuseries Welcome to Wrexham on the way, Wrexham AFC is looking at precarious situation in their balance sheets.

Have you watched any Wrexham AFC games? Do you think they'll make the jump to the Premier League?

#WeAre #SmealSportsBusiness #Wrexham #PremierLeague #EFL

Part-owner Ryan Reynolds cheers on his team.

Source: https://lnkd.in/erKkZHF6