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WRU statement: Major announcement over futures of Cardiff and Ospreys
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Ospreys owners Y11 Sport & Media have withdrawn their bid to purchase Cardiff Rugby, with the decision agreed jointly with the Welsh Rugby Union following discussions.
The withdrawal brings an end, for now, to the prospect of private investment at Cardiff, with the region set to remain under WRU ownership until it makes commercial and strategic sense to revisit a sale. The move was formally approved at a WRU board meeting on April 16.
Attention now turns to the wider professional landscape in Wales, with the next Professional Rugby Agreement edging closer. The Ospreys will be offered the opportunity to join the PRA25, as will the Scarlets, subject to due diligence.
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That would bring both regions into line with Dragons RFC and Cardiff, who have already signed the agreement.
The announcement has come just days before Cardiff and the Ospreys meet in the United Rugby Championship at Cardiff Arms Park.
WRU CEO Abi Tierney said: “We know we need to move to three clubs, nothing has changed there, for both financial and performance reasons and so we can invest in the right way in our pathway to ensure the future of the game.
“But this move brings stability to the system where it is needed and a calmness and assuredness to our plans for the future.
“Y11 presented the best bid for Cardiff Rugby but the WRU has ultimately concluded that it is in the best interests of Welsh rugby for Cardiff Rugby to remain under WRU ownership for now.
“We remain undeterred from our ambition to move to three professional sides, this is necessary for the future of our game.
“We will continue to invest the £28m we have earmarked for our pathways over the next five years, in a phased way, and we retain our ambitions for commercial growth in the professional game.
“I would like to add that we are all very grateful to Y11 for the professionalism and commitment to Welsh rugby they have displayed throughout this process.”
Y11 Sport & Media said: “PRA25 for the Ospreys and top tier rugby in Swansea, partnering with Swansea Council and developing St Helens is the right outcome, whilst continuing to work with the WRU to further build a better pro rugby environment.
“We are grateful to the WRU for their openness and transparency throughout the negotiation period.
“Thank you to the Ospreys supporters for their patience and understanding, we know these have been worrying times for fans.”
