Wrexham ‘surprise’ Keith Wyness after new deal agreed
Wrexham’s use of government money has been under further scrutiny after the Welsh club agreed another high-profile deal.
That is according to ex-Everton, Aston Villa, and Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, who remains unimpressed with recent ongoings at Wrexham.
Wyness criticised Wrexham for taking £18million worth of non-repayable grants from the Welsh government to use on redeveloping their Racecourse Ground.
Apollo Sports Capital have since become minority owners at Wrexham, in a deal which further boosts the club’s financial position.
Keith Wyness reveals ‘aggressive emails’ on Wrexham stance
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 – was not aware that Wrexham were going to announce the deal with Apollo.
Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness believes it justifies his argument further that Wrexham should not be using government funding.
He told Football Insider‘s Inside Track podcast: “It’s interesting. I didn’t know anything about that because there are Chinese walls within Apollo, obviously, and I was not aware of any transaction going on.
“It did certainly surprise me when I read the news that Apollo were involved in that. And it brings me back to what we discussed last week about the 18 million pound government loan. Now, I had some, what should we say, aggressive emails from some Wrexham fans who felt that I shouldn’t be questioning this.
“But the point is, and I think the point here is that they’ve got access to cash. Apollo have certainly got the money, and they could have backed an 18 million pound financing for a new stand very easily. And so I still question the point about this.”
Wrexham behind in Premier League chase
Wrexham have been valued at £350m and are owned by American stars Ryan Reynolds and Rob Mac.
The Red Dragons have ambitions to become a Premier League club in the near future under the ownership of Reynolds and Mac.
Wrexham are currently 14th in the Championship table, and six points off the play-off spots following a 2-2 draw against Watford.