Hollywood duo Ryan Reynolds and Rob McElhenney are relinquishing their control over Wrexham AFC after selling a significant stake in the club to US private equity firm Apollo. The move comes just three months after the Welsh football club received £14m in state aid, sparking questions about the commercial viability of the investment.
Reynolds and McElhenney, who have been instrumental in transforming Wrexham into a Championship powerhouse, will remain as majority owners following the deal. However, their stake has diminished, paving the way for Apollo to inject capital into the club.
The financial backing is expected to be used to develop Wrexham's Racecourse Ground, which has undergone significant improvements under Reynolds and McElhenney's stewardship. The investment will also support the club's ambitions to reach the Premier League.
Apollo Sports Capital, a prominent global investor with over $840bn in assets under management, has previously provided financial backing to Nottingham Forest. This latest move marks an expansion of their portfolio into English football.
The involvement of private equity firms like Apollo raises concerns about the role of state aid in supporting clubs. The Welsh government's decision to award Wrexham £14m in non-repayable grants sparked debate, with some arguing that the investment would be more commercially viable without public support.
While Reynolds and McElhenney have been praised for their efforts to revive Wrexham's fortunes, questions remain about the motivations behind the state aid. The club has repaid loans worth £15m in just over a year, raising questions about the necessity of government intervention.
The partnership between Apollo and Reynolds/ McElhenney aims to support Wrexham's growth while maintaining its commitment to the local community. The Welsh government has previously emphasized that the investment would benefit the local economy by hosting international matches at the stadium.
As Wrexham embarks on this new chapter, the future of English football will be closely watched as it navigates the intersection of private and public funding models.
Reynolds and McElhenney, who have been instrumental in transforming Wrexham into a Championship powerhouse, will remain as majority owners following the deal. However, their stake has diminished, paving the way for Apollo to inject capital into the club.
The financial backing is expected to be used to develop Wrexham's Racecourse Ground, which has undergone significant improvements under Reynolds and McElhenney's stewardship. The investment will also support the club's ambitions to reach the Premier League.
Apollo Sports Capital, a prominent global investor with over $840bn in assets under management, has previously provided financial backing to Nottingham Forest. This latest move marks an expansion of their portfolio into English football.
The involvement of private equity firms like Apollo raises concerns about the role of state aid in supporting clubs. The Welsh government's decision to award Wrexham £14m in non-repayable grants sparked debate, with some arguing that the investment would be more commercially viable without public support.
While Reynolds and McElhenney have been praised for their efforts to revive Wrexham's fortunes, questions remain about the motivations behind the state aid. The club has repaid loans worth £15m in just over a year, raising questions about the necessity of government intervention.
The partnership between Apollo and Reynolds/ McElhenney aims to support Wrexham's growth while maintaining its commitment to the local community. The Welsh government has previously emphasized that the investment would benefit the local economy by hosting international matches at the stadium.
As Wrexham embarks on this new chapter, the future of English football will be closely watched as it navigates the intersection of private and public funding models.
. I mean, Reynolds and McElhenney have done an amazing job with Wrexham, but is it fair to rely on government support all the time? If Apollo's investment helps take some of that burden off, that's a good thing 
. But we should also consider what happens if they don't perform well on the pitch - can the club still recover without public support? I'm curious to see how this plays out 
.
. But for real, its interesting to see how these big investors and governments are playing their hands here. Are they just trying to prop up struggling clubs to boost the local economy? Or is there more to it than that? 
Need to know who's really calling the shots here... private equity firms getting richer off state aid 
. Still, I guess it's smart business for them - they get to stay involved but don't take all the risk.
?
. First off, I don't get why Reynolds and McElhenney even sold a stake in the first place? They've been doing a great job with the club and it seems like they didn't need the cash 
Just heard about Ryan Reynolds and Rob McElhenney selling a significant stake in Wrexham AFC to Apollo. Not sure if they're making a smart move or just passing the baton on a sinking ship... all that state aid was £14m, but did it really pay off? The club repaid loans worth £15m in under a year, sounds like a pretty steep price tag 
... these two guys put their blood sweat & tears into getting wrexham back on its feet 
but at the end of the day its all about making that money 
still, gotta give em credit for trying tho 
theyre like a dynamic duo for wrexhamafc 
️. What's next? Bailing out Manchester City and Liverpool too? 
. On one hand, it's great that they're getting some serious financial backing - they can finally start building that new stadium and make some real progress 
. On the other hand, you have to wonder if Apollo's involvement is all about making a profit rather than supporting the local community 
even tho apollo is coming in with some cash might make things more interesting for the club though, wonder how this will all play out 
. But one thing for sure - the future of English football is gonna be super interesting to watch 
.