Financial authority approves Reynolds, McElhenney Wrexham takeover

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(Reuters) - The proposed takeover of Welsh soccer team Wrexham by Hollywood actors Ryan Reynolds and Rob McElhenney has been approved by the Financial Conduct Authority (FCA), the club's supporters trust (WST) said.

Canadian Reynolds, famed for starring in superhero comedy "Deadpool", and American actor McElhenney, creator and star of sitcom "It's Always Sunny in Philadelphia", first expressed interest in investing in the club in September.

In November, the WST, which owns the club, voted in favour of the move.

"Last month we informed supporters that contracts had been exchanged and the sale of the club was pending approval of a change to our rules -- as voted for by WST members -- by the FCA," the WST said in a statement.

"Wrexham Supporters Trust are pleased to inform supporters we have today received such approval from the FCA. Both parties shall now work to formally complete the sale of shares in Wrexham AFC next week."

Reynolds and McElhenney said their goal was to grow the club, which plays in the fifth tier of English football, and get them back into the English Football League (EFL), from which they were relegated in 2008.

They are currently eighth in the National League, one division below the EFL's League Two.

Wrexham have reached the FA Cup quarter-finals three times but have never competed in the top-flight of English football.

Founded in 1864, Wrexham have been owned by their fans since 2011.

(Reporting by Arvind Sriram in Bengaluru;Editing by Peter Rutherford)