Actor and entrepreneur Ryan Reynolds is buying another soccer team, adding a win to his sports assets after his previous attempt to buy an NHL team failed.
Here's the latest on Reynolds's soccer ventures.
What Happened: Actors Reynolds and Rob McElhenney bought a stake in Necaxa, a Mexican soccer team that plays in Liga MX.
Exiting owners of Necaxa include actress Eva Longoria and investors Al Tylis and Sam Porter, according to Variety.
The move followed Reynolds and McElhenney buying the Welsh soccer team Wrexham FC, which is one of the oldest soccer teams in the world. The acting duo brought an increased fan base to the team and help it through several promotions.
Terms of the deal were not announced, but the minority investment was believed to be significant according to sources.
Club Necaxa was valued in the low nine-figure range in 2021 when Tylis, Porter and Longoria bought around 50% of the franchise. The team was valued at around $200 million in a 2022 funding round that brought on new investors.
Related Link: How Ryan Reynolds Builds Billion Dollar Companies
Why It's Important: While no media plans have been announced, Reynolds and McElhenney's purchase of Wrexham previously led to the docuseries "Welcome to Wrexham" airing on FX, a unit of Walt Disney Co (NYSE:DIS).
Two seasons of the hit series have aired with a third set to premiere on May 2, 2024. The series won five Emmy Awards for its first season including Best Unstructured Reality Program.
Liga MX is the most-watched soccer league in the U.S., outdrawing the country's own Major League Soccer.
The league doesn't sell commercial rights in a package, instead allowing teams to negotiate their own deals. Necaxa's media rights in the U.S. currently belong to Univision, which is owned by TelevisaUnivision, a joint venture which counts Grupo Televisa (NYSE:TV) as the largest holder.
Major League Soccer previously discussed a merger with Liga MX. The two leagues have the Leagues Cup, which includes teams from both countries.
The new celebrity owners could help boost overall attention to Necaxa and Liga MX.
While Necaxa had a string of success in the 1990s the team has struggled in recent years. In the 2023-2024 season, the team ranked ninth in Liga MX. The previous season saw a 17th place out of 18 teams finish in the Liga MX.
Similar to other soccer leagues, but unlike the MLS, Liga MX uses a promotion and relegation system that moves up the best teams each season and moves down the worst teams. The league suspended this system in 2020 in a move to last through 2026.
Returning Necaxa to a higher position in the league and boosting the fan base could help the team negotiate better television deals on its own.
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