Ryan Reynolds and Rob McElhenny Eye Stake in Welsh Fire Team

Hollywood stars Ryan Reynolds and Rob McElhenny, co-owners of Wrexham AFC, have expressed interest in acquiring a stake in Welsh Fire, the Cardiff-based team competing in the Hundred. After successfully guiding Wrexham to back-to-back promotions in 2022-23 and 2023-24, the pair are reportedly considering further investments in Welsh sports.

The ECB recently opened the process for securing private investment in the Hundred, with American investment bank Raine handling the sale. Vikram Banerjee, the ECB's business operations director, noted that there has been immense interest from various investors. Welsh Fire, based at Glamorgan’s home ground, Sophia Gardens, has the smallest capacity among the Hundred teams and is expected to be the least expensive franchise, with an estimated value of around £30 million. Glamorgan, holding a 51% stake, retains control over the franchise while evaluating potential investors.

In recent months, Glamorgan has been in discussions with various parties, including the owners of Pakistan Super League's Multan Sultans. However, the prospect of Reynolds and McElhenny joining as investors has generated considerable excitement. Dan Cherry, Glamorgan’s CEO, described the possibility as “an exciting proposition,” though he highlighted that no concrete developments have taken place yet. Cherry explained that they are assessing all bids to determine the best fit for the club’s future.

Cherry highlighted the remarkable impact Reynolds and McElhenny have had at Wrexham, but he was cautious, stating that while the duo's involvement is intriguing, it may not necessarily be the right fit for Welsh Fire. Nonetheless, the potential investment is still being considered as part of Glamorgan's strategy.

Private equity firms like CVC and RedBird Capital have also shown interest in purchasing stakes in Hundred teams, while IPL franchises are expected to bid as well. However, the ECB is hesitant to adopt an ownership model similar to SA20, where all teams are IPL-owned. Ineos, known for significant investments in various sports, is unlikely to submit a bid.

Glamorgan believes that Welsh Fire’s lower valuation, compared to London-based franchises, makes them an appealing option for investors. Despite salary caps ensuring costs remain similar across the competition, the franchise’s revenue potential comes primarily from broadcast deals, which are shared evenly.

Cherry highlighted the unique investment opportunity that Welsh Fire presents, particularly as a franchise representing Wales. He pointed out Cardiff’s rapid growth as a city, regularly hosting major events at venues like the Principality Stadium, Cardiff City Stadium, and Cardiff Castle. Cherry noted that maintaining the Welsh identity, heritage, and history of the club will be key in discussions with potential partners.

He added that Glamorgan remains open-minded and is not rushing into any deals. The club intends to keep its majority stake in Welsh Fire and is focused on finding a partner who can enhance both the cricket and commercial sides of the team without taking over control.

Glamorgan’s first year under head coach Grant Bradburn has had its ups and downs, with hopes now pinned on Sunday’s Metro Bank One-Day Cup final against Somerset. Cherry, in his first full year as CEO, believes the club’s financial position has improved, allowing for more focus on growing cricket in Wales and achieving on-field success.

Cherry acknowledged that the club’s performance in recent years has not met expectations, especially in producing players for England. However, with improved finances and a strong leadership team, he is optimistic about transforming the club's future and developing Welsh cricket further.