Wrexham have agreed ‘absolutely despicable’ deal
Wrexham should not be using government funding for redeveloping the Racecourse Ground.
That is according to ex-Everton, Aston Villa, and Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, who believes there should be a “major enquiry” into how Wrexham have managed to secure the grant.
Wrexham are owned by Ryan Reynolds and Rob McElhenney, and have been valued at £350million after the pair’s financial backing helped the club rise from the National League to the Championship in just three seasons.
In their first summer transfer window back in the Championship, Wrexham had a budget of £30m to spend, as the club’s owners have ambitions of reaching the Premier League.
‘Major enquiry’ needed at Wrexham
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes there is enough money at Wrexham to pay for any stadium development work.
Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness does not agree with Wrexham being allowed to take a non-repayable grant from the government.
He told Football Insider‘s Inside Track podcast: “I think it is absolutely despicable. It’s basically state aid. Now Britain’s no longer in the EU and it reminded me of a story with Real Madrid were getting basically EU state aid. But there are still rules around getting government aid.
“I think that, you know, I’ve been around stadium development projects and all we’d ever been able to get in terms of government funding and quite correctly was money for roads or transportation situations to be improved around the area. That’s what the government grant was for to Wales to try and do that.
“Now, the argument that they’re trying to make is that this is going to be improving the stadium and allow it to host more international and national events that will help the economic impact in North Wales.
“Well, I’m afraid 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 £350 million. I’m afraid there is enough money in there to reinvest in the club and rebuild their own stadium.
“I think that there should be a major enquiry into this money and if it can be clawed back because it’s a non-repayable grant, it isn’t repayable and I think it’s wrong.”
Wrexham continuing on-pitch investment
Wrexham’s spending could continue on the pitch in the January window, with manager Phil Parkinson again set to be backed in the transfer market.
Angers forward Sidiki Cherif is a Wrexham target, despite his £17m price tag and interest from Premier League clubs.
Wrexham currently sit 10th in the Championship table, seven points off the automatic promotion places to the Premier League.