Wrexham AFC says that it is debt free and owns its own stadium, training ground, land and equipment. Owner Geoff Moss has sold his 50 per cent stake to Wrexham Village Ltd. in which he is a major investor. The Welsh club said the company had secured private equity finance to acquire the club development land and hoped student flats would be ready next summer. Wrexham went into administration in 2004 with debts of about £4m before being bought out by a consortium led by local businessman Neville Dickens.
Wrexham AFC says that it is debt free and owns its own stadium, training ground, land and equipment. Owner Geoff Moss has sold his 50 per cent stake to Wrexham Village Ltd. in which he is a major investor. The Welsh club said the company had secured private equity finance to acquire the club development land and hoped student flats would be ready next summer. Wrexham went into administration in 2004 with debts of about £4m before being bought out by a consortium led by local businessman Neville Dickens. At the end of the 2007-8 season the club was relegated from the Football League to the Conference. Last month the club announced losses of £940,482 for the year ending June 2008 and forecast similar losses for the next financial year. However, following the sale of Mr Moss’s 50 per cent share – which he bought from Mr Dickens – the club said it no longer had any overdraft or long-term loans. The club has always said its financial future relied heavily on the development of land around the Racecouse ground.