pod Posted November 16, 2020 Report Share Posted November 16, 2020 Wrexham FC is about to be sold by their supporters to two Hollywood stars. Has been in fan ownership since 2011. Why has ownership not worked for them. Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted November 16, 2020 Report Share Posted November 16, 2020 3 minutes ago, pod said: Wrexham FC is about to be sold by their supporters to two Hollywood stars. Has been in fan ownership since 2011. Why has ownership not worked for them. Lack of investment Quote Link to comment Share on other sites More sharing options...
pod Posted November 16, 2020 Author Report Share Posted November 16, 2020 12 minutes ago, waldorf34 said: Lack of investment Touch wood. Quote Link to comment Share on other sites More sharing options...
rabuddies Posted November 16, 2020 Report Share Posted November 16, 2020 Football, in its current form, needs more investment to run a competitive club than revenue streams can support. Most successful clubs at our level need regular external investment to sustain improved competitiveness. I presume that's why Kibble are on board. Quote Link to comment Share on other sites More sharing options...
saint in exile Posted November 16, 2020 Report Share Posted November 16, 2020 6 hours ago, pod said: Wrexham FC is about to be sold by their supporters to two Hollywood stars. Has been in fan ownership since 2011. Why has ownership not worked for them. Same thing is about to happen to Cork City over here. Looks like they'll be sold to the owner of Preston for £1 and he'll take over the debts. Sad to think they were in the Champions League qualifiers just a few seasons ago. Quote Link to comment Share on other sites More sharing options...
oaksoft Posted November 17, 2020 Report Share Posted November 17, 2020 (edited) Had a look at Wrexham's annual accounts for year end 2019. They look in very good shape with a decent 3/4 million profit. The previous year they had made a 6 figure loss so this all looks good. Then you look at their income stream and realise that the only thing which gave them a profit was selling a player (player sales is included with prize money but that latter is a tiny amount in comparison - see previous year). They appear to bring in a good amount from use of the stadium but they actually lose money on that aspect. In other words, they are another club in the English league system spending far more than they can afford and it's likely that 2020 will have been catastrophic because of the lack of a sugar daddy to plough money in to keep them afloat. They stand to lose £1.7m from gate receipts and potentially £1.6m from not having a player to sell so that's just over £3m they have to account for without a sugar daddy. I suspect Cork are in a similar position. This is a problem we will face as well when we take over and my suggestion is that we continue to ask members for monthly contributions which get ring-fenced for emergencies such as the one facing the game at the moment. Edited November 17, 2020 by oaksoft Quote Link to comment Share on other sites More sharing options...
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