Wrexham AFC Receives £18 Million Welsh Government Grant Amid Hollywood Ownership

Welsh Government Allocates £18 Million Grant to Wrexham AFC

Wrexham AFC, the Welsh football club co-owned by Hollywood stars Ryan Reynolds and Rob McElhenney, has received almost £18 million in non-repayable grants from the Welsh government. The funding, disbursed via the local council, has drawn attention due to the club's significant private backing and recent global prominence.

Funding Designated for Racecourse Ground Redevelopment and Wrexham Gateway Project

The substantial financial injection is primarily earmarked for the redevelopment of the club's historic home, the Racecourse Ground. Specifically, a significant portion is intended for the reconstruction of the Kop stand, aiming to upgrade the stadium to meet UEFA's requirements and enable it to host international matches once again. This grant forms part of a larger £25 million Welsh government initiative known as the 'Wrexham Gateway project', which seeks to regenerate the area surrounding the Wrexham General train station, adjacent to the stadium. Records indicate that specific payments to Wrexham AFC included £3.8 million in February 2022 and £14 million in September.

Hollywood Ownership and Club's Meteoric Rise

Since their takeover in February 2021, Reynolds and McElhenney have invested heavily in Wrexham AFC, purchasing the club for $2.5 million. Their ownership has coincided with a remarkable ascent through the English football leagues, including two successive promotions, and a dramatic increase in the club's global profile, largely fueled by the popular Disney+ documentary series 'Welcome to Wrexham'. The club's revenue has seen a significant boost, with reports suggesting an increase from £10.5 million to an estimated £26.7 million in a single year. The club is reportedly 'flirting with a £350 million valuation' and is actively seeking new investors to further its ambitions.

Public Debate and Economic Justification

The allocation of public funds to a club with wealthy celebrity owners has generated considerable discussion. Football finance experts, such as Stefan Borson, have questioned the provision of a 'non-repayable subsidy to a privately owned business' with such significant valuation and affluent owners. Concerns have also been raised regarding the timing of the grant amidst local council budget pressures.

However, Welsh government and local council officials defend the investment, emphasizing its broader benefits for the region. They highlight the importance of protecting the Racecourse Ground as a 'cultural and heritage asset' for Wrexham. The funding is also justified by its potential to drive economic regeneration, boost tourism, and create jobs through increased visitor numbers and the hosting of major events. Tourism revenue in Wrexham has reportedly surged from £49 million in 2020 to £180 million last year, underscoring the economic impact attributed to the club's renewed success and global exposure.