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Two top flight sporting clubs in the same league are set to be owned by the same private stakeholder after a major decision was made in Cardiff.
United Rugby Championship teams Ospreys and Cardiff will be owned by the same firm, Y11, after the Welsh Rugby Union agreed to sell their holding in the Cardiff Arms Park-based team to the sport and media investment house. Y11 has 60 days to complete on the deal.
Y11 already owns the Ospreys, based in Swansea, and the club will continue to operate until at least the end of next season, but beyond that the future of Wales’ most successful team is uncertain.
And it comes as the Welsh Rugby Union looks to reduce the number of regions from four to three.
Ospreys chief Lance Bradley said: “I want to apologise to you all about not being able to communicate with you earlier.
“The discussions between Y11 and the WRU are commercially confidential, so could not be discussed until certain agreements were in place. I hope you can understand that.
“The WRU has today confirmed its intention to sell Cardiff Rugby to Y11. Being announced as the preferred bidder means that both parties now enter into an exclusivity period to finalise the transaction.
“Whether a deal is concluded or not, however, Y11 will continue to own and operate Ospreys.”
Clubs in same league?
Y11 have investments in South African side the Toyota Cheetahs, who could face both the Ospreys and Cardiff in the Challenge Cup next year, and Super Rugby side the Hurricanes.
It is almost unprecedented for a private owner to own two clubs in the same league, despite rugby often seeing national unions have stakes in multiple clubs.
A WRU statement read: “This was a unanimous decision by the WRU board and based on the best financial future for Cardiff, including access to identified funding, security of long-term investment and commitment to the Cardiff Rugby brand and heritage.
“On completion of the transaction, Y11 would become the new owners of Cardiff Rugby which would remain an independent club and brand playing in Cardiff.
“Y11 would continue as the owners of Ospreys as a separate club, and Ospreys will continue to play in the URC and EPCR competitions until at least the end of the 2026-27 season.”
