Welsh Rugby Union Release A Statement

The WRU board met for its January meeting today and considered the recommendation from the Executive Leadership Team on the sale of Cardiff Rugby. The board reviewed in detail the final two bids and unanimously approved the proposal to move forward with a preferred bidder into an exclusivity period. Following this decision, the WRU has obligations to liaise with a number of stakeholders over the next few days. We will then discuss the decision with the two bidders and the management of Cardiff Rugby and we expect to be in a position to have completed this by next week. The WRU hopes to finalise the detailed negotiations with the preferred bidder and sign a binding agreement within a matter of weeks.