Wrexham

[E17yid]

You don’t have FFP in non league do you? Something they’ll have to think about next year in league 2 though I’m sure they’ve got nothing to worry about but you’d imagine the wages they have people like Mullins on is astronomical for who and where they are.

 

[Metalhead]

They've actually been pretty astute and done most of it organically.

According to last seasons accounts they posted a loss of £3m, but if I'm reading it right £1m of that was buying the ground back.

What they have done is been able to fill their stadium week in, week out and leveraged sponsorship due to the the Disney+ series and owners stature, particularly in the US.

They took an approach of rather than just writing cheques, of building links with the community and the fans - they really seem to have an affinity with the people of Wrexham and that feeds into every aspect of the club and their finances.

There is plenty of jealousy from other fans, but I don't think the 'financial doping' claims are fair, especially when compared to other leagues.

They seem to have done a very, very good job and full credit to them for doing so.

STATEMENT | Annual Report and Financial Statements: Year Ending June 30, 2022

The Annual Report and Financial Statements for the 12 months to June 30, 2022 (‘the period’) have been submitted to Companies House.

www.wrexhamafc.co.uk

It's a brilliant story.

 

[Marty]

You don’t have FFP in non league do you? Something they’ll have to think about next year in league 2 though I’m sure they’ve got nothing to worry about but you’d imagine the wages they have people like Mullins on is astronomical for who and where they are.

Yeah the Athletic did a dive into how Wrexham will have to rethink their finances a bit when they get promoted. Short answer is they'll probably be fine.

Wrexham's accounts explained: Welcome to Wrexham plan and TikTok sponsorship

The accounts for Ryan Reynolds and Rob McElhenney's first full season at Wrexham reveals how turnover soared by 404 per cent to almost £6m

theathletic.com

Promotion will mean next season having to comply with the EFL’s Salary Cost Management Protocol, whereby League Two clubs are restricted to spending 55 per cent of turnover on wages.

Thanks to the club’s rapidly growing income streams, this shouldn’t be a problem. Even if this season’s wage bill at the Racecourse is, as it seems, in the £3-3.5million bracket, Wrexham would comply thanks to a turnover that already compares favourably to most in the fourth tier.

With Parkinson’s squad full of players who had previously played at EFL level, there is an argument to suggest not too many changes will be needed to make a big impact in League Two. Every manager, however, likes to refresh and Wrexham’s growing commercial revenue makes that possible.

Kieran Maguire, a lecturer on football finance at the University of Liverpool and the man behind the Price Of Football blog, tells The Athletic: “As financial results, these are fine as long as the owners continue to fund the club.

“They have been generous owners. They’ve put money in in the form of shares. At the same time, they’ve also lent the club money and are charging interest. That’s not always the case with owners.

“But what this allowed the club to do is spend over £4million on property assets. That is great, as it is setting the club up to become more independent and more sustainable. That can only be welcomed. I’m always happy when money goes into the infrastructure rather than, say, what Everton did by blowing it all on players.

 

[SlotBadger]

 

[Gassin's finest]

As someone said, it's charisma doping. Turning football into a Hollywood sideshow.

Yeah, I'm bitter.

 

[Marty]

As someone said, it's charisma doping. Turning football into a Hollywood sideshow.

Yeah, I'm bitter

I'll take it over Oil State or Hedge Fund doping any day of the week.

 

[Gassin's finest]

I'll take it over Oil State or Hedge Fund doping any day of the week.

Tru dat

 

[E17yid]

I think the thing that I found cringe was the fact they knew nothing about football and turning it all into a joke but also, more importantly, I kinda just assumed they didn’t really care. For all I know that could be true but I do think they actually give a shit, but then again they are actors.

Mcelhenny seems like a real sports guy and while they play silly sports in America I think he is starting to feel passionately about football and as I say I think they care which is the most important thing. They’re funny as well, which helps.

 

[Bluto Blutarsky]

 

[cwy21]

So going from the National League to League One is fairly normal, right? Going from League 1 to the Championship should be a bit more of a challenge?

 

[Marty]

So going from the National League to League One is fairly normal, right? Going from League 1 to the Championship should be a bit more of a challenge?

Yeah something like 10 teams have done that double promotion in the last 30 years. League One will be much harder for them, they'll almost certainly survive with ease given their resources but they won't be among the favourites to go up again.

 

[branchie]

Up the Town!