Wrexham have been handed a massive financial boost as they aim for promotion once again this season.
The club have been on a meteoric rise since Ryan Reynolds and Rob McElhenney‘s takeover in 2020.
GettyWrexham are chasing a third successive promotion this season[/caption]
Following back-to-back promotions, Wrexham are enjoying their first season in League One for 19 years.
With 12 matches remaining, Phil Parkinson’s side sit third in the table, two points adrift of Wycombe in second place, while Birmingham are nine points clear at the top.
The Red Dragons have now received a fresh boost off the field with the news of a £14.3million investment.
Details of the investment were revealed by Companies House, with records showing the sale of a single share for £14,297,724.82.
The single share is only worth £1, though, surprising some fans on social media.
Reacting to the investment, one supporter wrote: “Please tell me how this is legal.”
Another sarcastically added: “Fairytale story.”
Meanwhile, a third fan asked: “How is this even allowed?”
It follows the news that Wrexham have have received planning permission for a new 5,500-capacity Kop stand at the Racecourse Ground.
However, it has not been confirmed if the £14.3million boost is for the new stand.
Wrexham have played at the Racecourse Ground since their formation in 1864, with the stadium currently holding 13,341 fans.
The Allyn family from New York also became minority shareholders in the club in October, having sold their medical device firm for over $2billion (£1.55bn) in 2015.
Football finance expert Kieran Maguire believes that the Allyn family are the most likely source of the funding.
“It looks like good news and it’s a fresh investment,” said Maguire, as quoted by the Daily Mirror.
“Presumably, it’s going to be used for infrastructure to allow the club to expand, which is what they need to do, to give people the opportunity to watch them.
“The reason why it’s one share for £14million as opposed to 14 million shares for a pound each, is that it doesn’t disturb the share ownership as such. If you had 30 per cent before, you’ve still got 30 per cent now.
“I suspect it’s the Allyn family, because it’s not really what Reynolds and McElhenney are bringing to the party.
“They’re bringing stardust and that works extremely well, but from more of a financial background it would make more sense if it’s from the other investors.”
Reynolds and McElhenney are eyeing a third promotion since their takeover this season.
It would see the club reach the second tier for the first time in 43 years.
Following Tuesday’s 1-0 win at Huddersfield, Wrexham sit two points behind promotion rivals Wycombe.
A victory at home to Rotherham on Saturday could see them move into the top two if the Chairboys lose at Peterborough United.
