The Hollywood actors, who bought the club in 2021, are due to play alongside Wrexham player-coach David Jones and former players Paul Rutherford, Shaun Pearson and Mark Carrington.
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Wrexham have signed up to play in The Soccer Tournament, a winner-takes-all competition in Cary, North Carolina from June 1-4 with 32 teams competing for a $1m [£831,000] prize.
The Welsh club confirmed their participation earlier this month, joining a field that already includes former Fulham and Tottenham midfielder Clint Dempsey's Team Dempsey, Hashtag United, Liga MX side Club Nexaca and US Women, made up of former United States internationals.
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Deadpool actor Reynolds and It's Always Sunny In Philadelphia creator McElhenney announced their intention to buy Wrexham in September 2020 and completed a deal for Wales' oldest club the following February, with even Will Ferrell paying a visit to watch a game.
Since then, heavy investment has turned the club into National League promotion contenders and they made headlines in late January when they came close to knocking Championship side Sheffield United out of the FA Cup, instead getting a replay at Bramall Lane which they lost 3-1 after late goals.
The fly-on-the-wall 'Welcome To Wrexham' documentary has given the club a global profile, and participating in TST is seen as an opportunity to continue that.
Should Wrexham claim the big prize, the club has pledged to spend half of the money on community projects.
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"Wrexham AFC is an incredible story showcasing the experience that can unfold when fans, players and owners are equally committed to the Club and the community," said TST founder and CEO Jon Mugar.
In a statement, Wrexham advisor Shaun Harvey explained: "We look forward to debuting in the US with a legends team and the ambition of winning the tournament.
"Should we be successful, $500,000 of the prize money will be used to enhance the club's work in the local community.
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"Wrexham AFC is more than just a first team. It represents the people of North Wales and this tournament will allow us to incorporate former players of the club like we have never been able to do before."
Reynolds and McElhenney have become beloved figures in the Welsh city ever since their takeover, guiding the team to a playoff run last season, and looking to secure automatic promotion this year.