Wrexham's remarkable annual turnover of £26.7million would position them in the upper half of the Championship in financial terms, it has been disclosed. The Welsh club, under the ownership of Hollywood actors Ryan Reynolds and Rob McElhenney, released their accounts for the financial year ending June 30, 2024 on Monday.
The figures reveal that Wrexham experienced a 155 per cent increase in turnover during the 12-month period, encompassing the club's promotion-winning season in League Two in 2023/24, up from roughly £10.5m the previous year. The staggering amount surpasses any other team in League Two and League One and is credited to the publicity garnered by the hit Welcome to Wrexham documentary.
The popularity of the series also facilitated a significant boost in Wrexham's sponsorship revenue, which rose from £1.9m to £13.2m after securing contracts with international powerhouses such as United Airlines and HP. Despite the impressive numbers, the Red Dragons still reported a loss of £2.7m, albeit this was less than the £5.1m deficit noted the year prior.
Football finance expert Kieran Maguire has now revealed that Wrexham's substantial income would rank them just below ex-Premier League teams like Norwich and Stoke City in the higher echelons of the second tier. The assessment from the University of Liverpool lecturer bodes well for the future, as Phil Parkinson's team currently occupy the second automatic promotion spot in League One.
According to Maguire, host of the Price of Football podcast, Wrexham's recent financial reports suggest they would be well-equipped to compete in the Championship if they secure promotion. He also noted that promotion would bring in an additional £8m in TV revenue, reports the Mirror.
In an interview with talkSPORT, Maguire said: "If we start with the money coming in, which is spectacular, Wrexham made three times as much money as any other club in League Two, more than any other club in League One, and they would actually be in the top half of the Championship.
"They're not that far behind the big hitters of the Championship, the likes of Stoke and Norwich and so on. It's an incredible achievement in terms of bringing in the money and it's their ability to become an international brand which has really driven this."
"I was teaching in Charlotte in Carolina last year, and the only football shirts I saw were those of Wrexham, which is an amazing achievement, and that's on the back of the documentary. If they get promoted this year, that adds another £8million of TV money because they'll be in the Championship TV deal.
"That would put them fairly close to all of the clubs, with the exception of those who are in receipt of parachute payments, in the Championship."
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If Wrexham go up to the Championship, they would be bound by financial fair play rules, limiting their permitted losses. However, according to Maguire, the £2.7m losses suffered by the club last year wouldn't put them at risk of violating profit and sustainability regulations (PSR).
Wrexham director Humphrey Ker recently shared forecasts indicating that wages would need to quadruple for the club to compete in the second tier. Despite this, he voiced confidence in Reynolds and McElhenney's continued dedication to the club, citing their positive response to the news.
Maguire added: "I think they are in a very strong position from a PSR point of view. They lost a wee bit of money last year, but it was only a wee bit. It was about £2.5m and they can lose £39m over three years when they get to the Championship.
"They've got the capacity to invest in players and to invest in improving the infrastructure, and I think they will be an exhilarating proposition to watch, because everybody's eyes will be focused on them.
"They'll be up against some really big teams who've just been relegated from the Premier League, whereas they can point to being in the National League two years ago."
