Skip to main content

Wrexham ripe for Netflix series?

Here's what the Financial Times Scoreboard has to say about the takeover at Wrexham by two Hollywood stars:

The unlikely narrative was swallowed up by global media. Wrexham supporters told BBC Radio they expect to fly up the divisions as a result of the £2m the Hollywood pair have pledged to invest into the club. And the new owners’ rib-tickling video to announce the takeover went viral — as they surely intended.

Plenty of US investors have flooded into football in recent years, attracted by the huge worldwide interest in the sport and its multibillion-dollar broadcasting deals. 

These huge TV contracts rarely trickle down to Wrexham’s level. When Texas millionaire Kent Teague poured his fortune into lower league side Leyton Orient two years ago, he told the FT that he fully expected to lose money, but that the investment was mainly for him to have fun.

By contrast, Reynolds and McElhenney’s takeover, brokered by New York-based Inner Circle Sports, appears to be a serious attempt to make money. 

The pair are tapping into the insatiable appetite for media content in a different way. The men have begun filming a documentary about their trip into football club ownership. 

This follows the likes of Tottenham Hotspur, Leeds United and Sunderland, which have been the focus of major behind-the-scenes shows in recent years. Apple has backed Ted Lasso, a sitcom about a hapless American coach at a fictional English football club.

As Bloomberg’s Alex Webb explains, a Netflix-style series on Wrexham could make enough cash for the new owners to recoup their investment, while ensuring the club turns a tidy profit. The free media earned by the takeover is further brand building for Reynolds and McElhenney, a boost for whatever comedic project they move on to next. 

Perhaps the deal is a win-win for all concerned. Yet such a plan puts the cart before the horse, the show ahead of the football. If the team doesn’t achieve as much success on the pitch as the Wrexham documentary does off it, fans will not see the funny side.

Labels:

Comments

Post a Comment

Popular posts from this blog

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...
1 comment
Read more

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day ...
Post a Comment
Read more

Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club. Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale. Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium. The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to ...
Post a Comment
Read more