According to Varzesh3, Wrexham AFC, located in North Wales, recently celebrated their second-ever promotion to the English Football League (EFL) Championship after a 3-0 victory over Charlton Athletic at the Racecourse Ground.

A team that once played in the National League (the fifth tier of English football) has made remarkable progress under their Hollywood owners, McElhenney and Ryan Reynolds, rising from the lower leagues to the brink of the Premier League.

Four years ago, McElhenney stated, “Our goal is to reach the Premier League.“

Reynolds also said after the win against Charlton: “It was understandable that many reacted with laughter and mockery, but now this dream feels more tangible and could truly come true.”

Wrexham’s successes during this period have shown that their ambitions are no joke.

Now, as they stand on the verge of entering the Championship, the question arises: Can they compete with teams like Leicester City, Southampton, and West Brom? Can they really climb another tier and reach the Premier League?

Humphrey Ker, the club’s executive director, says: “We’ve always aimed for the highest level possible, but this season we’ve exceeded expectations, especially in terms of the speed of progress. This success is a testament to the competence of Phil Parkinson, the team’s manager.”

The club’s owners have supported the manager from the beginning, and it seems this support will continue. The 57-year-old manager has now secured his sixth career promotion, placing him behind Graham Taylor, Dave Bassett, and Jim Smith (with 7 promotions) and Neil Warnock (with 8 promotions).

With experience at Bolton Wanderers, he has transformed the team calmly and wisely each season. In the starting lineup against Charlton, only three players from the previous team were present, showcasing his ability to maintain team spirit over these four years.

Budget

Smith, whose acrobatic goal played a key role in the promotion and earned Reynolds’ praise, joined Wrexham in January for around £2 million, breaking the club’s transfer record.

For a team that until recently relied on free transfers and short-term contracts, this is a significant amount. But compared to Premier League teams, it’s negligible.

Barry Horne, former Wales national team and Wrexham captain, says: “In football, money talks. The league table usually reflects the teams’ revenues and is directly related to wage levels. But Wrexham is already competitive.”

The club’s latest financial statements confirm this, as Wrexham’s revenue is on par with teams in the upper half of the Championship table.

Thus, they can spend more without worrying about financial sustainability rules.

While clubs relegated from the Premier League receive parachute payments and will be in a better position, Wrexham expects to increase their £26 million revenue from the 2023-24 season.

Promotion to the Championship means access to greater financial resources. TV revenue will increase, and sponsorship deals will likely rise. TV revenue alone could add around £8 million.

Major deals are expected to continue, as the club uses a unique marketing model. The documentary about them, broadcast worldwide, and the fame of its owners have significantly boosted the team’s marketing.

Their shirt sales rival those of Premier League clubs. Preseason matches in Australia showed their ambitions extend beyond the U.S. market, where Wrexham games are broadcast live to a wide audience.

Currently, discussions are underway to set next season’s budget. They spent around £11 million in the 2023-24 season. But they now accept this figure must gradually approach the Championship average, roughly double that amount.

Another key point is that players aren’t joining Wrexham just for money; the club’s ambition and excitement also play a decisive role. So, Wrexham won’t spend recklessly.

Financial Support

However, Wrexham is entering a world where eight-figure losses (tens of millions of pounds) per year are normal.

But Reynolds and McElhenney aren’t alone in this journey; alongside multiple investments in other projects, they have the financial backing of wealthy shareholders.

New club director Carlin Allyn and his father Eric Allyn, entrepreneurial businessmen, sold their medical equipment company for over $2 billion in 2015 and now own between 10% and 15% of the club.

Beyond the Allyn family, who support the club’s ambitious plans, attracting new investors is also on Wrexham’s future agenda.

Current Wrexham Valuation

According to football finance expert Kieran Maguire, Wrexham’s value after promotion to the Championship could reach £150 million.

This figure represents a 7,400% increase from 2021 when Hollywood stars Ryan Reynolds and Rob McElhenney bought the club for around £2 million.

Bloomberg reports that before the latest financial statements and official promotion, Wrexham’s value in March 2025 was estimated at around £100 million.

Maguire says: “I guess the possibility of promotion was somewhat factored into the initial valuation. But given the owners’ fame and their proximity to the Premier League, the club’s value could rise by another 50%.”

Wrexham has also appointed key management figures to strengthen the club financially. Michael Williamson, with experience at Inter Milan and D.C. United, was appointed CEO in May 2024.

The American TV documentary “Welcome to Wrexham” has played a huge role in global recognition since its 2022 release.

Although Wrexham doesn’t earn directly from the show, it has significantly boosted the club’s popularity and revenue in other areas.

In the 2023-24 financial year, when Wrexham was in League Two, club revenue rose by 155% compared to the previous year, reaching £26.7 million—a record for League Two clubs. Before the Hollywood takeover, Wrexham’s revenue at the non-league level was £1.14 million.

Off the Pitch

In a club run by fans less than five years ago, investments have been directed toward improving off-field structures, now strengthening personnel and expertise in commercial and managerial areas.

Key infrastructure projects are underway, including a much-needed new training ground. The club knows it must invest more in the academy, as developing local players will strengthen the squad.

They can capitalize on the “Wrexham-mania” wave among local youth. The region has always produced top talents: from Ian Rush, Mark Hughes, and Neville Southall to Harry Wilson and Neco Williams.

Stadium

Fulfilling these plans will take time, but fans will soon see Wrexham’s first steps.

In next season’s Championship, Wrexham will have the smallest attendance among participating teams. This is due to reducing the Racecourse Ground’s capacity to under 10,000 to begin construction of the new 5,500-seat “Kop” stand for the 2026-27 season.

The design is handled by the renowned firm “Populous,” which designed Wembley Stadium, Tottenham’s stadium, and even Las Vegas’s famous Sphere.

The stand can expand by another 2,000 seats and allows for the renovation of other stadium sections to meet Premier League standards.

Due to the popular documentary, there’s global demand for Wrexham tickets, with tourists visiting the stadium even on non-match days.

Is Premier League Promotion Possible?

Everything is new for Wrexham. In March 2020, they drew at home with Eastleigh, staying in the National League by just two points above the relegation zone.

Then the pandemic hit, suspending matches. Humphrey Ker advised McElhenney to watch the Sunderland documentary, and suddenly everything changed. Now, with their own documentary, they’re preparing to compete against teams with Premier League history.

They hope to follow in the footsteps of teams like Watford (1999), Manchester City (2000), Norwich City (2011), Southampton (2012), and Ipswich Town (2024), who achieved back-to-back promotions to the Premier League.

Horne says: “There’s no reason they can’t push for promotion again.”

On Saturday night, no one at Wrexham claimed they could achieve a fourth consecutive promotion, but they didn’t rule it out either. As Ker said: “Our biggest success has been taking it step by step and always asking: What’s the next step?”

Now, the football world eagerly awaits Wrexham’s next move and their future destiny.

Source: BBC