Wrexham have smashed their record transfer fee as they prepare to return to the Championship.

The Welsh club are eyeing an unprecedented fourth consecutive promotion next season and a first ever spot in the Premier League.

The Red Dragons have quickly risen up the English pyramid since being taken over by Hollywood stars Ryan Reynolds and Rob McElhenney.

They were languishing in the National League when the duo took over in 2021 but they are now in with a shot at playing in the top tier, having reached the second division for the first time in 42 years after winning promotion from League One last season.

Wrexham have now completed the signing of Empoli defender Liberato Cacace as they look to bolster their squad.

The 24-year-old New Zealand international has signed on a three-year deal for an initial £2.16m fee, which could rise to £4m, talkSPORT reports.

Wrexham have smashed their record transfer fee to sign Liberty Cacace in a deal rising to £4m

The 24-year-old New Zealand defender has signed on a three-year deal for an initial £2.16m

Wrexham have won three consecutive promotions under Ryan Reynolds and Rob McElhenney

That means the defender will be almost double the price of Wrexham’s previous record signing, the £2m Sam Smith signed from Reading in January. 

Cacace, who has 33 caps for New Zealand, said he was ‘absolutely delighted to sign for this historic club.

‘I just can’t wait to get started.

‘Looking from the outside, what they are creating here is something I want to be part of.

‘The family they have here – it’s a tight-knit Club and that enticed me.

‘I had a great phone call with the manager, and after that I really wanted to sign.’

Manager Phil Parkinson said: ‘We are delighted to welcome Libby to Wrexham and look forward to integrating him with the squad on our return home.’

‘Libby is a player we have looked at,’ the 57-year-old manager told media during their pre-season tour of Australia and New Zealand.

‘I have spoken to Libby and love his character and personality. He is a player who will fit in with the culture we have created at Wrexham.’

Cacace has 33 caps for New Zealand and said he was ‘absolutely delighted’ to join Wrexham

The Red Dragons were in the National League when the Hollywood duo took over in 2021

Wrexham finished second in League One last season and were promoted to the Championship

Empoli were relegated from Serie A in May, giving Wrexham to the opportunity to sign Cacace.

The deal highlights a broadening of their recruitment plans, with the vast majority of previous signings coming from British or Irish sides.

The left-back was nominated for the FIFA Best XI last year and will compete with captain James McClean, Seb Revan and Jacob Mendy for a starting spot.

Wrexham have already signed former Leicester and Liverpool goalkeeper Danny Ward and Plymouth’s Ryan Hardie this summer. 

They were linked with sensational moves for Premier League proven Jamie Vardy and Tom Cairney at the beginning of the summer but the interest appears to have cooled. 

Meanwhile, standout striker Paul Mullin, who has scored 110 goals in 170 games for Wrexham since joining in 2021, has been loaned out to Wigan for the season.