(Credit: Imago)
Wrexham may have enjoyed their third promotion in three seasons but a valuation of £350million is “outrageously high”.
That is the view of football finance expert Dan Plumley, who exclusively told Football Insider that a figure as high as that would require serious investment from outside sources.
The Welsh club’s rise from non-league to the Championship has been nothing short of sensational since Hollywood stars Ryan Reynolds and Rob McElhenney took over at the club.
And in a quest to continue improving, sources told Football Insider in May that Wrexham will have a huge £30m transfer budget to work with this summer.
£100m valuation of Wrexham more conceivable
But whilst there is little doubt the club are one of the most valuable second-tier teams in England, despite having only become a Championship side this summer, finance expert Plumley expressed his doubts to Football Insider on the club being worth £350m.
That figure came from a report by Bloomberg, which states that Reynolds and McElhenney are considering selling a stake in the club “for a valuation of up to £350m ($475m)”, according to sources familiar with the matter.
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However, Plumley believes “you could conceivably get them in and around that £100m mark”, but that Bloomberg’s reported figure was “outrageously high”.
He said: “My football finance valuation head says it’s outrageously high.
“Even if you look at kind of revenue multipliers and the way you look at those valuations, and we know Wrexham’s turnover was phenomenal in League 2 and will have got better since.
“We haven’t seen the numbers, but you could conceivably get them in and around that £100million mark on revenue multipliers and the way they’re pushing that club forward.
“And that, again, is phenomenal for a Championship club that has come up through that; it shows the trajectory.
“To get to the £350m mark, we’re talking about if investors come in and pay a certain price for the shares that they’re prepared to pay, then we can extrapolate the valuation, that’s what we’re doing here.”
Wrexham targeting Premier League talent
Elsewhere at Racecourse Ground, the club are looking to continue their meteoric rise through English football by recruiting Premier League talent.
Wrexham are interested in Fulham captain Tom Cairney, although the Scotland international is mulling over a contract offer from the Cottagers.
Owen Beck is also a target for Phil Parkinson’s side but Liverpool have offered the defender a new contract.
And whilst he is not a Premier League player, Mick Brown told Football Insider that Wrexham are interested in Rangers’ Tom Lawrence.
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