Exclusive: Government to face questions after Wrexham payment revealed
Wrexham have hit the headlines after being granted £18million worth of public money to help fund their new Kop Stand.
UK government state aid disclosures have revealed (via The Guardian) Wrexham have received the non-repayable grants from the Welsh government through the local council.
Wrexham are owned by Ryan Reynolds and Rob Mac (formerly McElhenney), who have helped the club achieve three successive promotions from the National League to the Championship.
Following criticism around the situation, Wrexham council said (via the BBC) “there are conditions attached to the funding” and the investment will preserve the “unique culture and heritage” of the Stok Cae Ras, also known as the Racecourse Ground, “for generations to come”.
However, sources have told Football Insider other clubs across England and Wales will now be asking questions around whether they are entitled to receive government support for their stadium projects.
How much are Wrexham’s owners worth?
It was confirmed on Thursday (4 December) Wrexham have broken ground on the redevelopment of the Kop Stand, with the project set to be completed during the 2026-27 season and increase the stadium’s capacity to just over 18,000.
Questions have been asked around why funding is necessary to help finance the development given the wealth of the Red Dragons’ owners.
Hollywood stars Reynolds and Mac are understood to have a combined net worth of around £300m.
Meanwhile, Wrexham have been valued at up to £350m, with their owners considering selling a stake at the Racecourse over the past few months.
Phil Parkinson has also been heavily backed in the transfer market, with Wrexham spending around £30m on new signings over the summer.
Nathan Broadhead became the Welsh club’s record signing, having joined from Ipswich Town in a deal that could rise to around £10m.
Wrexham have agreed ‘absolutely dispicable’ deal
Former Everton CEO Keith Wyness told Football Insider Wrexham’s deal with the Welsh government is “absolutely despicable” following the recent stadium controversy.
“I think it is absolutely despicable,” said Wyness.
“It’s basically state aid. Now, Britain’s no longer in the EU and it reminded me of a story with Real Madrid, where they were getting basically EU state aid. But there are still rules around getting government aid.
“I’ve been around stadium development projects and all we’d ever been able to get in terms of government funding quite correctly was money for roads or transportation situations to be improved around the area.
“When we’re seeing the Wrexham owners, we’re seeing Netflix, we’re seeing the revenue coming in, we’re seeing now the club almost valued at £350m, I’m afraid there is enough money in there to reinvest in the club and rebuild their own stadium.”
Elsewhere, Manchester United have announced plans to build a 100,000-seater stadium as part of the government’s regeneration of the Old Trafford area.
However, it has been confirmed no public money will go towards the Premier League giants’ stadium construction and will instead only be provided to improve infrastructure around the ground.
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