Wrexhams

Merthyr Town: National League North side take inspiration from Wrexham’s rise

Merthyr are not short of star names who have dipped into their own wallets to help. Line of Duty star Vicky McClure and her filmmaker husband Jonny Owen, who is from Merthyr, are among the club’s 150-plus owners, along with former Wales international Joe Morrell.

But any major takeover – by a company or individuals who could potentially propel Merthyr up the divisions at speed, like Ryan Reynolds and Rob Mac have done at Wrexham – would likely lead to a big change in its ownership structure.

“Unfortunately we’re a fan-owned club,” said Barlow, who has seen more ups and downs than most during his 65-year involvement with Merthyr, from player to kitman, physio to boardroom leader.

But fan-owned is what Wrexham were before Rob and Ryan breezed into the Stok Cae Ras and changed the world as Red Dragons’ fans knew it back in 2021.

“Yes, and those guys [Rob and Ryan] came in and put their hands in their pockets,” said Barlow.

“We haven’t come across anybody like that at the moment, but we have had some good sponsors and, as I say, we’re talking to people weekly.

“We’re starting now for next year. Irrespective of where we end up, we still want to be in a better position financially and stadium-wise than where we are now.

“One side of the ground is perfect, but we’ve got another area which I think the Romans built when they had a fort in the corner!”

Keep moving, keep looking for new forms of investment. A responsibility to do that comes from a need to keep supporting the man leading Merthyr’s charge for a second successive promotion, manager Paul Michael.

“We’re working as hard as we can because we want to support this guy, and we want the best team we can afford,” said Barlow.

“The better the results we can get with this guy in charge…it helps a long way.”

Appointed after leaving Yate Town in April 2022, Michael has transformed Merthyr from relegation candidates in Southern League Premier South to National League hopefuls.

“It’s been a real step into the unknown, but we’ve grown and grown and got better and better,” said Michael, who has managed to overcome the loss of 23-goal top scorer and Penydarren cult hero Ricardo Rees, who signed for National League promotion chasers Forest Green Rovers in December.

“Over the past few weeks we’ve probably been the most in-form team in the league, yet we’re competing against full-time teams. We’ve got no right to stay up there, really.

“If we were fortunate enough to get to the National League we would try to take it all in our stride. It would be an unbelievable achievement for a part-time team, though we’ve still got a long way to go.

“What’s happening here is fantastic for Welsh football, not just Merthyr Town.”

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Global brand in an EFL world – Wrexham’s finances explained as club eye Premier League

Because the EFL’s profit and sustainability rules are about trying to make sure clubs are not losing unsustainable amounts of money.

Despite going on a summer spending spree, paying about £30m for players and having one of the highest net spends around, Wrexham are well within the financial parameters because of the commercial revenue already being brought in thanks to deals with giants such as United Airlines and HP.

In League Two, they were already bringing in more than 20 of the 24 Championship clubs.

“Under the PSR rules, you’re allowed to lose £39m over three years,” said Maguire. “Looking at their two most recent sets of accounts, Wrexham lost around about £23m – but they’ve had substantial increases in broadcast revenue, from about £1.2m in TV money in League Two to about £12m this season.”

That is before taking into account a significant jump in sponsorship and commercial income, with chief executive Michael Williamson estimating they are already on a par with some top-flight clubs.

“We have a global brand, a Premier League brand in the Championship,” Williamson told Ben Foster’s Fozcast podcast in August 2025.

“What we don’t have is the broadcast revenue of Premier League clubs or the parachute payments.

“From a commercial standpoint, if you compared us to Championship clubs, I’m sure we’d be among the top and – on commercial revenues only – we would probably surpass a handful of Premier League clubs, around four or five I would guess.”

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