THE transaction to purchase the freehold of the Racecourse Ground has completed.
The Club announced on February 9 2022, the first anniversary of the takeover by Rob McElhenney and Ryan Reynolds, that Heads of Terms had been agreed with Wrexham
Glyndwr University to purchase the freehold of the Racecourse Ground.
With the Racecourse Ground back in the ownership of the Club for the first time since August 2011 there is lots to look forward to, including the proposed new Kop Development that would see the stadium return to be a four-sided stadium capable of hosting Wales international fixtures, as well as other sporting events in North Wales.
More than 94% of the respondents to a Club survey in November 2021 confirmed they were happy to see the freehold owned by the Club. Rob & Ryan, on behalf of the Club, have agreed to include a covenant on the freehold to ensure the Racecourse Ground will remain the home of Wrexham AFC until at least 2115, unless a move away is necessary because the stadium can no longer meet the Club’s requirements.
The Club have asked the WST Assets Ltd. to surrender the lease for the stadium, as this is no longer required to protect the Racecourse Ground as the permanent home of Wrexham AFC.
In addition to the financial commitment made by the Club towards the Kop Development, financial support is being sought from UK Government’s Levelling Up Fund and the completion of the transfer to the Club of the freehold significantly increases the deliverability of the project.
The co-chairmen said: “This is a great day for both the Club and ourselves, and one that we targeted from the first day of our ownership, encouraged by the vote of confidence from the Club’s fans in November 2021.
“While day to day, this changes very little for the Club, the symbolism of this moment is a massively important step for the Club going forward.
“We would like to thank Wrexham Glyndwr University, our neighbours, for the support they have provided the Club historically. We look forward to enhancing our already strong working relationship with them.”
