Wrexham owners Ryan Reynolds and Rob McElhenney have suffered a major blow in their bid to expand their sports empire.

The Hollywood duo, who already own stakes in soccer clubs Wrexham, Mexican-based Necaxa, and Colombian outfit La Equidad, as well as Formula One team Alpine, were reportedly eyeing an investment in Welsh Fire, a cricket franchise based in Cardiff, Wales. However, on Tuesday, it was announced that American-Indian IT entrepreneur Sanjay Govil has entered an exclusivity agreement to acquire a 50 percent share of the franchise.

Another cricket club, Glamorgan, which owns the remaining half, hailed this as a "landmark moment" for the team. Govil, who owns Major League Cricket team Washington Freedom, reportedly paid $50 million for his stake in Welsh Fire, valuing the franchise at $100 million.

In a statement, the club said: "Glamorgan Cricket are delighted to have entered into exclusivity agreements with Sanjay Govil in the final stage of the process to secure private expertise and investment into Welsh Fire. This is a landmark moment for the club in securing an equal stakes partnership with Govil."

Govil is the founder of Maryland-based Infinite Computer Solutions, which boasts annual revenues of $2 billion. The wealth of the tech magnate eclipses that of Reynolds and McElhenney, even though Reynolds is reportedly worth a cool $350 million, thanks to his savvy showbiz earnings and entrepreneurial ventures like Aviation Gin and Mint Mobile.

Dan Cherry, Glamorgan's chief executive, expressed mixed emotions about the pair's possible investment in Welsh Fire as he chatted with ESPN Cricinfo in September 2024. He said: "There's obvious interest in what Ryan Reynolds and the guys have done at Wrexham, which has been fantastic for football in North Wales.

"That doesn't necessarily mean to say that it'll be the right option for us, but if they're interested in talking to us, obviously it's an exciting proposition."

However, Govil, who also owns Zyter TruCare, has seemingly jumped ahead of the game. Mark Rhydderch-Roberts, chairman of Glamorgan, said: "It was vitally important for us that any investment partner shared our values, our strategic and commercial aims and our ambition to grow as an international brand.

"Washington Freedom ticked all of the boxes and has been our preferred bidder for some time so we are delighted that they have chosen to partner with us. They share our belief that both Glamorgan and Welsh Fire have huge potential and that Welsh Fire, in particular, can become a global brand."

Glamorgan and Govil are set to hammer out the specifics of its agreement over the next two months. This comes as the England and Wales Cricket Board is offloading 49 percent stakes in each of the eight hundred franchises.

In related news, Chelsea owner and American billionaire Todd Boehly acquired a stake in the Trent Rockets this week. Additionally, US-led Knighthead Capital Management, which owns Birmingham City, Wrexham's League One promotion rivals, has successfully completed a $50 million deal for Birmingham Phoenix.

The stake available in Welsh Fire has reportedly been bumped up to 50 percent due to the "strength of the relationship" between Glamorgan and Govil. Govil expressed his excitement about the deal, saying, "I'm thrilled for this next step forward in renewing and expanding cricket for the next generation of fans."

He added, "I'm looking forward to the benefits our partnership will have not only for recreational cricket in the United Kingdom but for strengthening the cross-border relationship between international teams, franchises, and fans for years to come."