Cardiff takeover bid collapses as WRU double-down on need for ‘stability and calmness’ with PRA25 extension
The Principality Stadium in Cardiff
Negotiations between the Welsh Rugby Union (WRU) and Y11 Sport & Media, the current owners of Ospreys, over a proposed takeover of Cardiff have collapsed.
Back in January, the WRU entered a period of exclusivity with Y11 on the sale of the union-owned capital outfit, but negotiations have since fallen through despite “constructive discussions” between the two parties.
As a result, Cardiff will continue to be operated by the WRU until further notice.
Cardiff takeover collapses as WRU offer PRA25 deal
However, following a WRU board meeting last week, the union have now offered Scarlets and Ospreys the opportunity to enter into the PRA25 deal to bring them onto the same level as fellow regional sides Cardiff and the Dragons.
This measure, which comes after the two West Wales-based sides rejected the proposal last year, will help ensure some level of stability in the professional game for the foreseeable future, as the WRU look to map out the next stages of their proposal to cut one of the four professional regions by the end of the 2027/28 season.
Furthermore, an extended plan on the roadmap to move towards three teams is expected by June.
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.
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“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 added: “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.”
Also commenting, Professional Rugby Board (PRB) chair, Marianne Økland, said: “This decision will hopefully contribute towards stability to the system in Wales.
“It’s good to see that the WRU Board has kept an open mind and evolved its thinking in line with developments. Welsh rugby now have an opportunity to work together to create a sustainable future for the whole game in Wales which is a priority for us all.”
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