Wrexham owners Ryan Reynolds and Rob McElhenney set for £17 million public funding for Racecourse Ground regeneration
- Wrexham set to receive public funding
- Will renovate and increase stadium capacity
- Wrexham back in Football League after 15 years
WHAT HAPPENED? Newly crowned National League winners Wrexham have returned to the Football League after an absence of 15 years and they are now set to receive public funding to renovate their home stadium, the Racecourse Ground, according to The Times.
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THE BIGGER PICTURE: Their Hollywood owners, Ryan Reynolds and Rob McElhenney, will reportedly receive a sum of £17 million ($21m) from the Welsh government via the local authority, which is more than four times the money they had spent to acquire the club back in 2020. Reynolds and McElhenney spent £2m ($2.5m) to acquire the club and invested a similar amount to get control of the stadium. The funding will be used to refurbish the ground and increase the capacity of the stadium from 10,500 to 16,000.
AND WHAT'S MORE: This is not the first time that a club received public funding. Other Welsh clubs like Cardiff City received investment from the city council, while Swansea's Liberty Stadium is council-owned.
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WHAT NEXT FOR WREXHAM? The Red Dragons are set to tour the United States as part of their preparations for the 2023-24 League Two season in July. They will play friendly matches against Premier League giants Chelsea and Manchester United and LA Galaxy II.