Soccer-Wrexham says it owes celebrity owners $11 million

(Reuters) - League Two side Wrexham owe their celebrity owners Ryan Reynolds and Rob McElhenney around 9 million pounds ($11.36 million), the fourth-tier Welsh club said.

Wrexham, bought by the actors in 2021, released their accounts for the financial year ended in June 2023 on Thursday. The club owed their owners almost 4 million pounds at the end of previous year.

The club reported an increase of 75% in revenue from approximately to 10.5 million pounds from 6 million pounds. However, its loss also deepened to 5.1 million pounds from 2.9 million pounds.

"The club is under no immediate pressure to repay these loans at the expense of the progress we seek to achieve," Wrexham said in a statement.

"Further financial support will be provided/secured to support the capital expenditure projects the club is currently planning."

Wrexham were promoted to English Football League's League Two as the 2022–23 champions of the fifth-tier National League. They are third in League Two this season and in contention for a promotion to third-tier League One.

($1 = 0.7924 pounds)

(Reporting by Shifa Jahan in Bengaluru; Editing by Christopher Cushing)

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