Posted: Thu 28th Mar 2024

Turnover up 75% as Wrexham AFC say ‘losses shouldnt be repeated’ as payroll nears £7m for people living in or visiting the Wrexham area

Wrexham Football Club have detailed their finances in what has become an annual public update and commentary.

The club have announced that last season – where promotion was achieved by both the Men’s and Women’s senior teams – turnover for the year was up 75% to £10.478m (2022: £5.972m) with the loss increasing to £5.113m (2022: £2.913m).

The club says, “Income was increased across the board, with the most significant with our retail operation reaching £3.430m (2022: £1.303m) and Sponsorship / Advertising rising to £1.883m (2022: £1.053m). The increase in Football revenue £1.314m (2022: £0.531m) can be attributed to our success in the FA Cup.

They say the payroll of the Club increased to £6.9058m up from £4.050m the year before.

Possibly indicating extra cash injections, the amount owed to The R.R. McReynolds Company, LLC at the year-end was £8.977m up from £3.714m.

The club’s update points towards sustainability, “The financial losses suffered by the Club since the takeover shouldn’t be repeated, with income generated by the Club now sufficient to meet the operational costs of the Club going forward.

“These losses were deemed necessary to allow the Club to maximise its full potential in the shortest time practically possible. The Club is under no immediate pressure to repay these loans at the expense of the progress we seek to achieve and further financial support will be provided/secured to support the capital expenditure projects the Club is currently planning, which includes increasing the capacity of The Racecourse Ground and the development of a training facility for all the Club’s teams.

“The year-on-year income comparisons since the takeover, show the potential of the Club. These will significantly increase again for the year ending June 30, 2024, following promotion and the continued popularity of Welcome to Wrexham”.

There has been no update to Companies House or other public information accounts, however that is likely in the coming days going off previous years information.

Spotted something? Got a story? Email [email protected]

Have a look at...

Closure plan for Welshpool and Caernarfon Air Ambulance bases confirmed – with new base planned for ‘middle of North Wales’

Trading Standards warning over Facebook user “fraudulently advertising events locally”

Ken Skates outlines plans to improve Transport for Wales services in Wrexham and beyond

“Lots of Wrexham routes make perfect sense for review” – Ken Skates on 20 MPH

Eisteddfod proclamation on Saturday will be ‘full of colour’

“Constructive” meeting over odour complaints at Hafod landfill

Hundreds facing cancer treatment delays as waiting times hit second-worst on record

Thrilling new water park to waves in North Wales seaside town

Nationwide ban on wet wipes containing plastic set to be introduced

“Wrexham is the place for investment” says Lead councillor for economy

Welsh Government will ‘look again’ at A483 junctions upgrades after scrapping plan last year

Former PCSO leads crime fighting mission in North Wales with cash seized from criminals