"The Wrexham AFC owners Ryan Reynolds and Rob McElhenney have sold a stake in the company to the US private equity investors Apollo, less than three months after the football club was given 14m in state aid. The Welsh club on Monday announced the investment by Apollo Sports Capital, part of the New York-listed investor. It did not reveal the size of the investment, but said Reynolds and McElhenney, who has changed his name to Rob Mac, would remain majority owners."
"It has previously loaned money to the Premier League club Nottingham Forest. Wrexham have risen up the English Football League to the Championship thanks to the backing of Hollywood owners Reynolds, the producer and star of the Deadpool film franchise, and McElhenney, the creator of the comedy series It's Always Sunny in Philadelphia. They have attracted big-name sponsors and multiplied the company's valuation in part through a Disney TV documentary, Welcome to Wrexham, which has charted the team's successive promotions."
Ryan Reynolds and Rob McElhenney sold a stake in Wrexham AFC to Apollo Sports Capital less than three months after the club received £14m in state aid. The size of Apollo's investment was not disclosed, and Reynolds and McElhenney (now Rob Mac) will remain majority owners. The investment will help finance development of the Racecourse Ground. Apollo manages up to $840bn and has previously loaned money to Nottingham Forest. Wrexham rose to the Championship with Hollywood backing, major sponsors and a Disney documentary, Welcome to Wrexham, which boosted the company's valuation. The £14m grant was non-repayable and unusually large for a football club.
Read at www.theguardian.com
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