Wrexham warned of ‘danger’ with Hollywood owners Reynolds and McElhenney
Former Wrexham player Brett Ormerod is optimistic that co-owners Ryan Reynolds and Rob McElhenney can steer the team in a positive direction if they stay put, even if they face financial losses. But he did warn the Hollywood pair may not be in it for the long run.
The 47-year-old retired footballer played for Wrexham from 2012 to 2014 and made 74 appearances for the club. The forward scored 12 goals during his time with the Welsh side and 148 for his career.
Ormerod recently had a conversation with Stocklytic, and expressed his belief that Reynolds and McElhenney will stay with the club. But he also highlighted the potential risks if they decide to leave due to financial or on-field issues.
“I wouldn’t say any other club is bitter about Wrexham’s situation, but they’ll definitely be jealous, and you can’t blame them. Ryan and Rob are obviously in this for the long haul,” said Ormerod.
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“They [the owners] obviously didn’t want to just make a ‘Class of 92’. They wanted something that had an existing fanbase and a good history. I just hope that they are in this for the long run. That’s the danger [that they aren’t].
“When you look at bigger teams like Reading, owners come in with the best intentions, it’s not always going to make money, and I think some business people don’t realize that. They end up losing a lot of money and walk away from the club while leaving said club in financial tatters. The people who suffer are the club itself and the fans.”
In 2012, Reading earned more than £100 million across four years for being promoted to the Premier League under chairman Sir John Madejski. The ex-chairman stepped down the following year and was replaced by Russian businessman Anton Zingarevich.
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Sir John owned the football club but sold a 49% stake to Zingarevich. However, Zingarevich spent more than he should have, leading to huge debts. He also failed to buy the remaining 51% of the club as he had agreed to, which left Sir John with half a club and substantial debts to pay off.
In 2021, Zingarevich left the club and became the owner of the Bulgarian club Botev Plovdiv. The club is ranked No. 8 in the Bulgarian Parva Liga and highlights Ormerod’s stance on the importance of ownership being in place for the right reasons.
In November, it was reported that Reynolds and McElhenney had lost over $12 million (£10m) through their investment into the club, as revealed in an episode of their docuseries “Welcome to Wrexham”. Club executive director Humphrey Ker did not disclose the precise amount of the financial loss, but subsequent research estimated the eight-figure deficit.
Shaun Harvey, a board advisor for Wrexham, has stated that if the club were to be sold last November, the selling price could be much higher than $12 million (£10m). Hollywood actors initially purchased the club for approximately £2 million in May.
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