So @VancityReynolds appears about to buy @Wrexham_AFC.

Why, I hear you ask? It's the purest expression yet of why there's been a surge in American investment in European football. Namely, content. https://www.bloomberg.com/opinion/articles/2020-11-12/why-hollywood-s-ryan-reynolds-rob-mcelhenney-want-to-buy-wrexham-fc

Because Wrexham is owned by its fans @WrexhamFCInfo, Reynolds and @alwayssunny star @RMcElhenney can acquire it for no upfront cost, though have pledged subsequently to invest £2m.

They've meanwhile told fans they plan to make a "Netflix-style documentary" about the club. 2/

They could realistically expect to sell that show for £300k/hour. So an eight-hour series would bring in £2.4m revenue. And because they own the club, they don't have to pay anyone to license the content -- it's theirs. So they can expect to net perhaps 25% profit, or £600k. 3/

Wrexham expects to make a £300k loss this year, so they can handily turn a loss into a profit. If REynolds and McElhenney appear in the show, or if if club gets promoted and it's a hit, then they could make even more. 4/

It's an incredibly canny play. Rather than approaching a club and asking to make a documentary, with all the legal and financial hurdles that entails, just buy the friggin club! And do it on the cheap! Demand for sports documentaries from OTT platforms is soaring. 5/

One caveat: for a compelling show, you need troughs as well as peaks. Think about "Sunderland Till I Die", which has been a hit largely cos of @SunderlandAFC's troubles.

That means the priorities of the owners, who need a narrative, may not always align with the fans'. /Ends