What Hollywood’s Reynolds and McElhenney got right at Wrexham

LONDON – When Ryan Reynolds and Rob McElhenney bought Wrexham AFC, a small Welsh football club languishing in the fifth tier of the English league pyramid, many people Doubt the two Hollywood stars will be able to bring any cheer to long-suffering fans.

Not least because, by their own admission, there were neither first thoughts about football – or what they’ve been forced to call it since – nor about North Wales, the sport’s third-oldest professional club. location.

The duo completed a £2 million ($2.5m) takeover of the club in February 2021, and last month Wrexham returned to England after 15 years in the wild after winning the Vanarama National League title. Football League (EFL) system.

The club, which will play in the EFL’s second tier next year, now boasts a reinvigorated local fanbase, a cult global following attracted by its first-team owners and a hit documentary series. Its budget could dwarf many of next year’s league second rivals, although the competition will be tougher.

Sam Hollis, head of strategy at UK-based management consultancy FutureBrand, told CNBC last week: “What strikes me is how far it can go wrong. People are waiting to shoot down this kind of thing.”

“There’s a lot of pressure and attention from the media, not to mention the skepticism of the die-hard fans. A city like Wrexham is incredibly proud of their club, it’s part of their way of life. They don’t welcome outsiders easily. into an ecosystem.”

Teams like Wrexham, based in smaller regional towns and playing in lower leagues – a far cry from the multibillion-dollar glamor of England’s flagship Premier League – are often integral to their communities a part of.

As a result, fans will not take kindly to being seen as a celebrity plaything and expect owners to dedicate time and resources to ensuring the club’s success.

Reynolds and McElhenney seemed wary of this, and quickly managed to develop a rapport with the local community, which Hollis attributes to their “radically transparent” approach.

“If they come in and pretend they know what they’re doing, or that they don’t know anything about football, then it’s impossible to keep it going. They don’t even talk about it the way people from America and Britain talk about it. They don’t use that. The right lexicon,” Hollis pointed out, suggesting that the duo’s self-deprecating willingness to learn from the club’s fan base helped build trust.

“So, brutally honest and transparent, coming in and acknowledging that the town owns the club. They’re just looking after it and helping it in this chapter, but it’s going to be owned by the Wrexham community forever. That’s an immediate win A lot of people are on their side,” he added.

The club’s profile has been boosted by the Disney+ and HBO documentary series ‘Welcome to Wrexham’, which follows the new owners’ efforts to secure promotion to League Two in their first season in charge .

The first game was ultimately unsuccessful as Wrexham suffered a thrilling 5-4 loss to eventual champions Grimsby Town in the playoff semi-finals. Grimsby have since cemented their place in the Second Division and the two clubs will meet again next season.

While celebrity endorsements and the associated global attention helped build Wrexham’s profile, the stars of “Deadpool” and “It’s Always Sunny in Philadelphia” came with commitment and investment. Hollis says they understand that turning around a struggling club like Wrexham “will take more than funny Twitter posts and a documentary”.

“For example, you often see two actors at a football game, and they both spend time with the players of the team. That dedication plays a vital role in attracting more support from fans,” Hollis said.

Wrexham fans have suffered a lot in recent decades as the club was pushed to the brink by massive debts and the lasting financial fallout of a series of disastrous owners. In 2005, a A pair of profiteers stripping property Their plan was to optimize the club’s property holdings and sell the land thwarted by the local taxi driver, who is still credited to this day for his role in saving the club.

A local businessman then took over but failed to shore up the club’s finances and eventually oversaw its relegation from the Football League in 2008. When Wrexham went up for sale again in 2010, bids from a string of controversial figures with a checkered history were rejected.

From the 2011/12 season the club was on the brink of financial exclusion until the Wrexham Supporters Trust managed to save it through donations from fans.

WST kept the club afloat for a decade, but a takeover bid by Reynolds and McElhenney in November 2020 represented renewed hope for Wrexham’s return to the big leagues.

Celebrity interest in football has grown in recent years, with Hollywood A-listers regularly appearing at various UK venues, prompting speculation that imitation could follow Wrexham’s relative success.

“I can see a lot of people trying to follow suit and buying a club that isn’t doing well to replicate that model, but unless they’re willing to spend the time and money necessary and really invest in it, I think there’s a risk of failing or making a serious mistake. ,” Hollis said.

“Anyone looking to follow that model needs to understand that they’re doing more than just borrowing their star power. When you’re an owner, you’re also an investor, and that’s the key to success.”