Wrexham co-owners Ryan Reynolds and Rob McElhenney have bought a 142-year-old brewery in the Welsh city, saying the move is partly driven by their understanding of “the occasional need for beer”.
The Hollywood duo, who have transformed the club since buying it for $2.5 million in 2020, have purchased a majority stake in Wrexham Lager, with AP reporting that the Roberts family, which revived the brand in 2011 following 11 years of non-production, are retaining minority investment.
“As co-chairmen of Wrexham AFC, we have learned a lot,” Reynolds and McElhenney said. “The connection between club and community, the intricacies of the offside rule and the occasional need for beer — especially after finance meetings.
“Wrexham Lager has a 140-year-old recipe and a storied history and we’re excited to help write its next chapter.”
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Wrexham Lager: Reynolds ‘conclusion’
Reynolds, who sold his Aviation Gin brand to the Diageo empire for $610 million in 2020, added: “Took this whole ‘hold my beer’ thing to its logical conclusion.”
The purchase was made by Red Dragon Ventures, which was formed by Reynolds and McElhenney and the New York-based Allyn family, whose minority investment in the club was announced on the same day.
“Wrexham has earned the world’s attention and we are focused on bringing on board world-class partners to help with the next phase of our growth,” they said.
“We have been fortunate to get to know the Allyn family and we are blown away by their intelligence, kindness and commitment. They are exactly the type of partners we will need for this amazing endeavour.”
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Wrexham finances
Reynolds and McElhenney could be seeking new investors because Wrexham are targeting promotion to the Championship next season.
Currently sitting a point shy of the automatic promotion places, the club are aiming to reach a second tier of English football which is notoriously competitive and financially demanding.
In the five years to the last set of financial accounts filed by clubs, in 2022-23, Championship clubs lost a total of £1.5 billion, according to The Swiss Ramble.
The 24 clubs in Wrexham’s current division averaged a relatively modest loss of £4.3m for the year to 2022-23, fellow finance expert Kieran Maguire said.
