Wrexham now earn more outside Britain than inside it

Wrexham AFC Limited filed full accounts for the year to 30 June 2025 at Companies House in March, and the geography note is the one to start with. Of £33,335,021 of turnover, £19,240,400 came from the Rest of the World and £13,511,066 from the United Kingdom, with £583,555 from Europe. A club that spent most of its history playing in front of a few thousand people in north Wales now takes more money from outside Britain than from inside it.

Sponsorship and advertising alone brought in £17,336,377, more than half of all turnover and more than matchday admissions, matchday commercial income, football income and retail put together. Matchday admissions were £4,637,109 and retail £5,067,604. The shape of the business is a broadcast and sponsorship operation with a football club attached, and the accounts make no attempt to disguise it.

Where the money goes

Staff costs were £19,948,133, against £11,043,609 the year before. Wages and salaries alone went from £9,858,062 to £17,587,741, a rise of 78 per cent in twelve months. Set against turnover, roughly 60 pence in every pound Wrexham took came back out as staff cost. The average monthly headcount tells the rest: 43 men's football players against 37, administrative staff nearly doubled from 50 to 91, and a total payroll up from 255 people to 313.

Note 10 is the squad as an asset. Wrexham capitalised £8,517,773 of player registrations in the year, taking the cost of registrations from £3,139,070 to £10,902,698, with a carrying amount at 30 June 2025 of £7,264,539 against £1,253,356 twelve months earlier. Amortisation on those contracts ran at £2,430,427. That is the accountancy of a squad being bought rather than assembled, and it is the closest any public document comes to valuing the players.

The cost of all of it was a loss before tax of £15,242,686, against £2,729,334 the year before, and the accounts are direct about who covers the gap. Wrexham Holdings LLC confirmed financial support for at least twelve months from the date the accounts were approved, and on 3 September 2025 the company allotted a single ordinary share for £7,118,058. There is also a bruise unrelated to football: a cash balance of £3,756,930 was frozen when the bank holding it entered special administration after the year end, and the whole sum has been taken off the balance sheet as an exceptional charge pending any recovery.

One limit worth stating plainly. These accounts close on 30 June 2025, so the season now under way and the summer window that preceded it fall into a year that has not been filed. No filing anywhere breaks out what an individual player is paid, and none of these figures can be attached to a name. What the audit does settle is the scale of the thing: a north Wales football club turning over £33m, employing three hundred people, earning most of its money abroad, and losing fifteen million pounds a year while it does.