Despite uplifting the Wrexham community and being promoted last season, Wrexham owners Ryan Reynolds and Rob McElhenney have lost over $12 million through their investment into the club.

Wrexham owners Ryan Reynolds and Rob McElhenney have admitted to losing over $12million (£10m) owning the team.

The ownership duo appeared on an episode of their docuseries “Welcome to Wrexham,” released on Halloween. Club executive director Humphrey Ker initially did not share how much money they lost, but further research estimated the eight-figure deficity.

“Let’s talk about how much money we’re losing,” said McElhenney as he joked around on the show. Ker told the pair they lost “loads” of money on the project. When Reynolds asked how much money they were losing, Wrexham Advisor to the Board Shaun Harvey disclosed the $12m figure to which the Hollywood actor responded: “I’m going to go throw up.”

Harvey clarified that if they were to sell Wrexham currently, they could receive a significantly higher amount than $12m. Additionally, Wrexham’s progression to a higher league creates new opportunities to generate revenue. In April, the club secured promotion to the English Football League, marking their return to this level after a 15-year hiatus.

McElhenney then asked at what point through his ownership would he get paid. “The value that’s coming from the global appeal we’ve been able to create is going to offset those additional costs that we’ve created,” Harvey continued. “The biggest thing that will change on promotion [is that] people can see the value of Welcome to Wrexham. They can see the value of the profile that’s being built. That’s when the additional sponsorship revenue can be generated.”

The Hollywood actors purchased the ownership rights of Wrexham for approximately £2m. In May, Anaam Raza, an investment expert from the Saxo investment platform, estimated that the duo could sell the football club for around $10m, resulting in a 300 per cent increase in profit from their initial investment. It is noteworthy that the club’s value remained unaffected even though Ryan and Rob lost over $3m (£2.5m) in the year they took over the club.