Wrexham have brought in new investment in a bid to continue their upward progress under celebrity co-owners Ryan Reynolds and Rob McElhenney.
The Red Devils are third in League One after back-to-back promotions into the EFL and out of League Two. Reynolds and McElhenney took over the North Wales club in 2021 and have tracked its journey in the Welcome to Wrexham documentary series.
They’ve sold a minority stake in Wrexham to the Allyn family of New York state, who offloaded their medical device company, Welch Allyn Inc., in 2015. Their focus since then has been on investment and philanthropy.
Investing in Wrexham’s future
Former Welch Allyn chairman Eric Allyn attended matches at the Racecourse Ground in October with Kaleen, one of his daughters. Their involvement takes the form of a joint venture between the Allyn family and Wrexham’s Hollywood owners. Red Dragon Ventures LLC has already acquired a majority stake in Wrexham Lager.
The pace of Wrexham’s progress on the pitch has raised the question of how far they can realistically go. Reynolds and McElhenney’s wealth and commercial pulling power are a potent combination but outside investment is needed to sustainably take the club to the next level and more.
Phil Parkinson has been heavily backed since his appointment as Wrexham manager and has rewarded Reynolds and McElhenney by guiding the team to within reach of a historic third consecutive promotion.
As well as direct investment, Wrexham’s rise has been enabled by both the marketing power and the other business interests of their star owners.
Their attraction of sponsors from Ifor Williams to United Airlines is hugely beneficial to the club and the town. The addition of the likes of Aviation American Gin to the club’s roster of partners is exactly the kind of cross-pollination that’s supercharging clubs higher up the leagues.
With the Allyns on board, Wrexham will look to overcome the financial challenges that come with lightning-fast evolution on and off the pitch. Parkinson might have the ability and support to take Wrexham into the Championship but seeking new investment early is an important step towards staying there.
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Wrexham’s triple-promotion bid is on hold this weekend as the FA Cup First Round takes centre stage. The Red Devils visit League Two opposition in the form of Harrogate Town on Sunday.
Third meets fourth as they host Mansfield Town next Saturday looking to close the gap on Birmingham City at the top of League One.
