Why Ryan Reynolds' bid to purchase second team alongside Wrexham has fallen through

Wrexham co-owner Ryan Reynolds' bid to add a second team to his assets won't move forward after being denied an exclusive 30-day window to get a deal over the line.

The Deadpool actor was involved in a bid to acquire National Hockey League franchise the Ottawa Senators in his native Canada. Local real estate developer Remington Group had been working alongside Reynolds to secure a deal.

It had been previously announced that the side was up for sale by owners the Melnyk family after the passing of family stalwart Eugene Melnyk. Subsequently, the planned sale of the Sennators has seen numerous parties show interest.

According to ESPN sources, Reynolds and Remington Group were looking for an exclusive 30-day window to secure a downtown arena deal. Additionally, the Canadian's request for an exclusive window to complete the deal was denied, which led the Wrexham co-owner to pull out of the process. The deadline for interested groups to submit final non-binding offers is 15 May.

As well as the Hollywood actor, there have been reports that artists Snoop Dogg and the Weeknd are part of separate bids alongside Los Angeles businessman Neko Sparks and Toronto billionaires Jeffrey and Michael Kimel respectively.

A recent Forbes valuation listed the Senators' value at $800million with it understood that the Remington Group's bid being in excess of $1billion.

Ryan Reynolds and Rob McElhenney in the stands at Wrexham. (Image: Alamy)

Back in November, Reynolds admitted his interest in purchasing the franchise on the 'The Tonight Show Starring Jimmy Fallon', saying: "I am trying to [buy the team]; it's very expensive, so I need a partner with really deep pockets.

"It's called a consortium, when you form a group to buy an entity, and it's such a fancy way of saying, 'I need a sugar mommy or a sugar daddy,' and if that doesn't happen, I'll buy a U.S. senator, which everyone can afford."

Alongside 'It's Always Sunny in Philadelphia' star and creator Rob McElhenney, the Canadian has been co-owner of Wrexham AFC since 2021 with the Red Dragons securing their promotion back to the Football League last month after a 15-year hiatus.