Apollo Sports Capital have taken up a minority share in Wrexham, with the prime aim of redeveloping the the Racecourse Ground.
US-based Apollo Sports Capital have recently taken a majority ownership of Spanish giants Atletico Madrid.
Reynolds and McElhenney bought Wrexham in 2021 when they were in the National League and have overseen their rise to the Championship in just four years.
In a joint statement, Reynolds and McElhenney said: “From day one, we wanted to build a sustainable future for Wrexham Association Football Club.
“And to do it with a little heart and humor. The dream has always been to take this club to the Premier League while staying true to the town.
“Growth like that takes world-class partners who share our vision and ambition, and Apollo absolutely does.
“We have known Al Tylis, the CEO of Apollo Sports Capital, for many years and are thrilled to now have ASC join the Wrexham family as we take the next step forward together.”