Apollo Sports Capital has added Wrexham AFC to its football portfolio, building on last month’s deal to become owner of Atlético Madrid.
Wrexham AFC has announced Apollo Sports Capital as a new minority investor, as it aims to reach the Premier League under owners Rob McElhenney and Ryan Reynolds.
In a statement on December 8, the club confirmed Apollo, an affiliate of Apollo Global Management, will contribute equity investment and provide financing for the redevelopment of the STōK Cae Ras, including the construction of the new Kop Stand.
The addition to the ownership structure will not impact McElhenney and Reynolds who will remain controlling owners, with Apollo joining as a strategic partner rather than a governance-changing shareholder.
“From day one, we wanted to build a sustainable future for Wrexham Association Football Club,” the co-chairmen said in a joint statement.
“The dream has always been to take this club to the Premier League while staying true to the town … Growth like that takes world-class partners who share our vision and ambition, and Apollo absolutely does.”
Financing the Kop redevelopment and Wrexham’s rise
Apollo’s Co-Portfolio Manager Lee Solomon described the club as being on “an incredible journey”, adding the firm intends to bring “long-term, patient capital” to support Wrexham’s competitive goals and the broader regeneration of the city.
Apollo’s investment will help accelerate the redevelopment of the Kop Stand, a key part of the Wrexham Gateway Project, the region’s wider civic and economic regeneration scheme. The new stand is due to hold 5,500 spectators.
The design also incorporates the city’s “Terracottapolis” heritage, aiming to restore a traditional four-sided enclosure at the STōK Cae Ras for the first time in decades. Once complete, the stadium will meet UEFA Category 4 criteria, allowing Wrexham to host international fixtures, including commitments already made for the 2026 UEFA European Under-19 Championship.
The investment follows a pattern of controlled minority sales under McElhenney and Reynolds. In November 2024, the Allyn family, known for its success in medical technology, acquired a minority stake through Red Dragon Ventures, a joint venture with the co-chairmen.
Since the Hollywood duo’s takeover in 2021, Wrexham has secured back-to-back promotions, built a global fanbase through the docuseries Welcome to Wrexham and become a prime example in how storytelling, marketing and strategic capital can accelerate the commercial ceiling of lower-league football.
Apollo builds out its football portfolio
Apollo’s investment comes only weeks after the firm agreed to acquire a 55% majority stake in Atlético Madrid, a deal valuing the La Liga club at roughly $2.31bn.
John Lambros, Co-Head of Houlihan Lokey’s US Technology Group, told Insider Sport the sector is now viewed as a “scarce, IP-rich industry” where technology, data, digital content and global fan monetisation remain largely untapped value drivers.
He explained private equity increasingly sees sport as a distinct investment category, comparable to music and other entertainment IP.
“Funds are increasingly seeing sport as a distinct investment category, much like music and other creative industries, where underlying alpha in marketing, fan connectivity, and digital expansion remains largely untapped,” he said.
”The market is pricing in that potential, which is, in turn, part of the reason why valuations have moved so sharply.”
