Welsh Fire set to get Hollywood flavor for future investment as current Wrexham owners said to be in the mix.
Welsh Fire, a squad in the Hundred based in Cardiff, has been seeking funding for their organisation. The Hollywood celebrities Ryan Reynolds and Rob McElhenny, who are co-owners of Wrexham AFC, have communicated regarding the same.
Reynolds and McElhenny have seen consecutive promotions, and the team is currently participating in the third division of English football. It is under the assumption the two are thinking of making more investments in Welsh sports.
Earlier this month, the ECB formally began the process of obtaining private investment in the Hundred. Prospectuses are given to parties showing interest by the American investment bank Raine. A “phenomenal level of interest from a diverse mix of investors” has been reported, according to process leader Vikram Banerjee.
The home stadium of Glamorgan, Sophia Gardens, in essence, is the least capacious facility in the Hundred. With a valuation of approximately £30 million, Welsh Fire is currently the least expensive franchise. The counties will split up the first investments’ earnings. Welsh Fire will receive a 51% interest that Glamorgan will be able to govern.
Over the past few months, Glamorgan has spoken with a variety of interested parties. However, the possibility of Reynolds and McElhenny purchasing a stake has piqued interest.
The club’s CEO, Dan Cherry says it’s “an exciting proposition” in this situation.
“It is a feasible option. Contact’s taken place. There’s not been anything substantial yet, but we’re in the process and I know they’ll certainly be inclusive in any process.
“There’s obvious interest in what Ryan Reynolds and the guys have done at Wrexham.That has been fantastic for football in North Wales. That doesn’t necessarily mean to say that it’ll be the right option for us, but if there is interest in talking to us, obviously it’s an exciting proposition.”