Wrexham FC Hollywood Takeover Awaiting FCA Approval

by Jamie Adrankone

Wrexham FC Hollywood Takeover Awaiting FCA Approval

The purchase of the third oldest football team in the world by a pair of Hollywood actors is one step closer to completion after exchanging contracts, leaving the deal in the hands of the Financial Conduct Authority (FCA).

The unlikely purchase of the supporter-owned National League club by Deadpool actor Ryan Reynolds and It’s Always Sunny In Philadelphia creator Rob McElhenney has been one of the feel-good stories of both the League and the town itself.

The story of how a club that recently placed 19th in the fifth tier of English football is one that could be turned into a movie script.

The club entered administration in 2004 after a campaign by then-chairman Alex Hamilton to kick the team out of their longtime stadium, Racecourse Ground to turn into new developments, potentially consigning a century-and-a-half of history to storage in Wrexham.

This led to years of financial issues that eventually saw the team relegated from the English Football League (EFL).

After the fans via a supporter’s trust bought the club themselves in 2011 and battled a winding-up order for unpaid taxes, the club started to rebound, even finding itself in the playoffs to make it back into the EFL in 2019, losing in heartbreaking fashion to Eastleigh at extra time.

In early 2020, the story took an unexpected turn, as then-director Spencer Harris was approached about a change in club ownership, but needed to sign a non-disclosure agreement first. Harris and other directors at Wrexham did not realise that the reason for this was because the two investors were major celebrities.

After being announced as prospective investors in September, 98 per cent of the supporters’ trust voted in favour of the takeover.

Once the FCA and the Football Association approve the deal, Reynolds and McElhenney, via the RR McReynolds Company LLC will own 100 per cent of the team and plan to invest £2m into the club.

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