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The WRU are on the verge of selling Cardiff Rugby
The Welsh Rugby Union is down to the final two bidders in the race to buy Cardiff Rugby.
Cardiff is up for sale after the club entered administration in April due to its former owners Helford Capital being unable to meet its contractual obligations. WRU chair Richard Collier-Keywood last month said there were four solid bidders for Cardiff but WalesOnline understands this has now been whittled down to just two.
The WRU met with both parties separately this week and one is understood to be a consortium led by former Cardiff director Martyn Ryan.
In an exclusive interview with WalesOnline in October the consortium which includes Ryan, Rhino CEO Reg Clarke, along with Hollywood producers Mark Williams (Ozark), Gareth West (Ferrari) and Niels Juul (Silence, The Irishman and Killers of the Flower Moon) want to create a scripted TV series of Cardiff.
Collier-Keywood has also previously said the owners of one of the other Welsh clubs could bid to buy Cardiff.
The WRU, who are planning on reducing the number of professional teams from four to three, want to get consensus on who the three teams will be moving forward to avoid going out to tender in the new year.
It is thought the WRU have previously held talks with the Ospreys‘ majority shareholders Y11 Sports & Media about acquiring Cardiff.
If the owners of one of the other three professional clubs buy Cardiff than that is one way the WRU could get consensus on who the three teams will be moving forward.
WalesOnline understands a consortium led by former Wales centre Mike Hall had also expressed an interest in buying the club.
The WRU initially slapped a £10m price tag on Cardiff while the successful bidder would also need to take on £6m worth of debt.
In the event Y11 was to purchase the club it would likely have to take on both the Cardiff and Ospreys debt which lessens its attractiveness.
But sources close to the Ospreys are confident the club is here to stay and will be part of Wales’ long-term future.
It is also worth noting the WRU has a fiduciary duty to its shareholders to accept the best financial deal not the most convenient one which gets them to three professional clubs.
The WRU is set to choose the successful bidder early in the new year.
