THE initial scale of how much of a financial hit Wrexham AFC took as a result of the Covid pandemic has been revealed, as the club has posted its accounts for the 2019/20 season.

The club revealed it posted a loss of over £740,000 from July 1, 2019 to June 30, 2020, as the pandemic forced a premature end to the Reds' National League campaign.

That compared with a £755,587 profit for the previous season, which was boosted by a one-off transfer fee income.

With fans unable to attend National League games at the Racecourse ground throughout the entirety of the 2020/21 season due to Covid restrictions in Wales, save for potential play-off fixtures, and gate receipts making up a significant portion of the club's income, it will be some time before the full impact of Covid is laid bare in the club's accounts.

The situation was made slightly worse as Wrexham was also the only National League club excluded from the Sports Winter Survival Package in January, because the club is located in Wales not England.

However new ownership, in the form of Hollywood stars Rob McElhenney and Ryan Reynolds, means the club can look forward to a much brighter future post-Covid.

A club statement said: "The Board of Wrexham AFC Limited have approved the Annual Report and Financial Statements for the year ending June 30, 2020.

"The trading for the year was entirely under the ownership of the Wrexham Football Supporters’ Society Limited (‘WST’) but the audit was completed by McLintocks after the takeover by The R R McReynolds Company LLC.

"In their directors report, Rob McElhenney, Ryan Reynolds, and Humphrey Ker acknowledged the efforts of the WST, that ensured the continuance of the Club for the benefit of the community from which it takes its name.

"Turnover was reduced to £1.757m from £4.114m in the year ending June 30, 2019. This can in the main be attributed to a reduction of £1.603m in transfer fee income and the WHO declaration of the Covid-19 pandemic on March 11, 2020 that meant fans were unable to attend games at the Racecourse ground after that date.

"The club received £319,796 from the job retention scheme grant and other Government support.

"The loss for the year was £740,327.

"The takeover of the club was completed on February 9, 2021, but with spectators still not able to attend games at the Racecourse ground the directors acknowledge that the full financial potential will not be realised until the 2021/22 season.

"The Board have committed to provide the financial support required to allow the club to progress in accordance with the stated aims of their mission statement."

Despite the struggles faced off the pitch, Wrexham remain in contention for promotion to the Football League with just one National League game left to play, away at Dagenham and Redbridge this Saturday (12.30pm kick-off). A victory would guarantee their place in the play-offs.