Necaxa Backers Buy Into Wrexham, Team Owned by Reynolds and McElhenney

Illustration by Lorenzo Gordon, Photos by Getty Images

Some of Club Necaxa’s backers purchased 5% of Wrexham AFC, the Welsh soccer team owned by actors Ryan Reynolds and Rob McElhenney, further deepening the ties between the two clubs and their celebrity-filled ownership groups.

An entity controlled by Al Tylis inked the deal in combination with Reynolds and McElhenney buying into their Club Necaxa stake, according to multiple people familiar with the negotiations, who were granted anonymity because the details are private. A recent Wrexham filing implied that the club had sold a 5% stake, but didn’t specify the buyers.

It’s unclear how the team, which has won two straight promotions, was valued in the deal. A representative for Necaxa declined to comment; a representative for Wrexham didn’t immediately respond to a request for comment.

The reciprocal investment further binds the clubs, which play 5,400 miles apart, and creates a relatively rare type of multi-club ownership overlap. Earlier on Monday, Variety reported that Reynolds and McElhenney were buying a minority stake in Club Necaxa. The two deals are separate transactions, the people said.

NX Football USA owns about 50% of Club Necaxa, which Tylis and his partner Sam Porter purchased in 2021. Its investors include actress Eva Longoria, MLB star Justin Verlander, model Kate Upton, NFL player Odell Beckham Jr., and former German soccer player Mesut Özil.

There’s likely more on the way between the two teams. Reynolds and McElhenney have found a lot of success utilizing their celebrity and media savvy to grow Wrexham’s fan base—and its business. The two clubs could play exhibition games against one another, and could possibly put players on loan, an advantage utilized by other, larger multi-club ownership. Off the field, their owners could further utilize their celebrity to promote both teams. Longoria has 10.1 million Instagram followers; Reynolds has 5 million.

The Variety story explored the possibility of a Necaxa docu-series, similar to Welcome to Wrexham, the award winning show that chronicles the Welsh team’s revitalization under new ownership. Longoria (Hyphenate Media), Reynolds (Maximum Effort) and McElhenney (More Better) all have production companies that could possibly be involved.

Necaxa was recently valued at more than $200 million in another NX Football transaction. There is a lot of ownership overlap between NX Football and NX Pickleball, which owns a D.C. pickleball franchise.

Reynolds and McElhenney paid nothing to buy Wrexham in 2020, promising to invest at least $2.64 million (2 million pounds) into the infrastructure of the club, which at the time was competing in the fifth division of English soccer. In just a few seasons the Red Dragons have won promotion twice, and will begin play in the third division later this year.

Off the field, the pair has dramatically grown the club’s fan base. Much of that is thanks to Welcome to Wrexham, which is about to debut its third season. The team now has a much bigger portfolio of sponsors, and is playing more international games and preseason tours.

Wrexham recently reported 2022-23 financials that included revenue of $13 million up from the $2 million-$4 million range prior to their takeover. Costs are also up, which has many wondering how the ownership group will be able to fund the expenses necessary to compete at English soccer’s highest levels.