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Wrexham's Hollywood owners have been encouraged to splash the cash before the January transfer window shuts to make their Premier League ambitions a reality. The Red Dragons squeezed into the Championship's final play-off position following a thrilling 3-2 fightback victory against Queens Park Rangers last weekend.

Wrexham have secured three successive promotions under Ryan Reynolds and Rob Mac's stewardship and remain in contention for an extraordinary fourth consecutive climb up the football pyramid. The Welsh club recently celebrated further positive developments after a substantial £47.8million financial boost was revealed following an investment from American finance group Apollo Sports Capital.

Former Aston Villa centre-back and EFL analyst Curtis Davies has now urged the Hollywood duo to use Wrexham's wealth to assist Phil Parkinson in strengthening his squad ahead of deadline day. He suggested this would provide them with the ideal chance to secure top-flight status by the end of the season, particularly with parachute payment sides like Southampton and Leicester failing to mount serious challenges.

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Davies's verdict comes despite him acknowledging that Wrexham's promotion charge has caught him somewhat off guard.

Speaking to BetVictor, he said: "I think when you speak about Wrexham, I didn't think they'd be in a relegation fight, but I thought they'd finish around mid-table.

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"While I initially thought it could just be a season where they stay up, be in and around it and maybe have a little huff and puff, but end up falling short, I'd now say they've got as much chance as anyone.

"That's simply because of, and I say this respectfully, how mad the league has been. While Coventry, Middlesbrough and now Ipswich are making a charge, if we think back to last year, it was boring.

"Last year, we had four teams pull away from the 15th game and the top four didn't change. Whereas this year we're talking about the likes of Hull, Stoke and Preston, who were fighting to stay up on the last day of last season.

"Like all three of those teams, Wrexham are in the conversation and I think they have got as much of a chance as anyone. I'm interested to see what kind of business they do in January."

Davies added: "Again, when we speak about Coventry doubling down on promotion, I think this will be Wrexham's best chance because the teams that should be up there are underperforming.

"Those relegated teams have been underachieving and I think Wrexham need to double down now and go for it because I do believe this will be the best chance to do it."

The Red Dragons haven't made any signings yet during the transfer window, though club bosses have confirmed Parkinson has funds at his disposal. Last week, Wrexham were reportedly eyeing up a club-record £19m swoop for striker Sidiki Cherif from French top-flight outfit Angers.

The 19-year-old has found the net four times in 19 outings during his breakthrough Ligue 1 campaign, with Parkinson reportedly travelling to France to see him in action against Paris FC last weekend. Should a transfer for Cherif be finalised for the reported fee, it would establish a new Championship transfer record.