Welcome to Wrexham, Apollo.
Apollo Sports Capital is buying a minority stake in Wrexham, the second soccer splash the asset manager has made since launching its dedicated sports arm roughly two months ago.
The deal is for an undisclosed minority stake in Wrexham AFC. As part of the agreement, Apollo will provide financing to support “ongoing redevelopment” of the team’s home stadium, the STōK Cae Ras in Wales. The team also recently received almost $24 million (£18 million) in grants from the Welsh government to help fund redevelopment of the area around its home stadium, The Guardian reported Nov. 29.
Ryan Reynolds and Rob Mac will continue to “oversee the club as controlling owners,” according to Monday’s press release. (Reynolds is the famous movie star known for films like Deadpool and The Proposal, while Mac, of It’s Always Sunny in Philadelphia fame, recently changed his last name from McElhenney to Mac, saying it makes things simpler for business purposes.)
The transaction comes less than six months after reports in June said the team was exploring a stake sale at a $475 million valuation—a ridiculous 18,900% increase over the $2.5 million Reynolds and Mac paid for the club in 2021. Monday’s deal also represents the second minority investment Wrexham has taken in the last two years; in October 2024, the club sold a roughly 15% stake to the Allyn family of New York in a deal reportedly valuing the team at about $136 million.
Financial terms of the Apollo deal were not disclosed, and representatives for Wrexham and Apollo did not immediately respond to requests for comment.
Wrexham currently competes in the EFL Championship, one level below the English Premier League. It has been promoted three straight seasons since being acquired by Reynolds and Mac.
Reynolds and Mac—co-chairmen of the club—said in Monday’s press release that “the dream has always been to take this club to the Premier League while staying true to the town. Growth like that takes world-class partners who share our vision and ambition, and Apollo absolutely does.”
Reynolds and Mac have an existing connection to Apollo Sports Capital CEO Al Tylis. All three are also invested in Colombian soccer team La Equidad.
Wrexham’s story, documented in the popular Welcome to Wrexham show, has made it a global brand. The club was struggling financially when it was bought in 2021 and generated $35.6 million in revenue for the fiscal year ending in June 2024, a 155% increase from the year before.
One European soccer club owner tells Front Office Sports that Apollo likely sought a “headline deal” to make a splash with its new sports division—even if it meant paying a premium. The undisclosed valuation may help Apollo avoid creating pricing pressure for future deals, the source says.
“With the crazy numbers for Wrexham being thrown around earlier, if they pay anything near that, it’s going to set expectations for clubs on future deals,” the source tells FOS.
The first deal Apollo announced after launching its sports arm in late September was the purchase of a majority stake in Atlético de Madrid, which plays in Spain’s LaLiga. That deal reportedly valued the team at $2.55 billion (€2.2 billion).
