The Professional Rugby Board (PRB) has reached agreement on funding to the regional game in Wales up until the year ending 2023 (YE23).
Under the new agreement, which was passed by the Welsh Rugby Union Board earlier this month and is subject to the terms of the Professional Rugby Agreement (PRA), PRA funding will increase by £2m for the year ending 30 June 2021 to £5m, will be £23m for the year ending 30 June 2022 (YE22) and reach £23.5m for YE23.
As part of the agreement it is acknowledged that business plans for YE23 are indicative only and based on a number of current assumptions which may vary.
"The PRB has worked hard on this latest agreement and we are confident we have found a solution that meets the short term requirements of each of our four regional sides," said WRU CEO Steve Phillips.
"The WRU Board is delighted to approve this solution to provide further stability to the professional game, in these most extenuating circumstances.
"The projected funding described is naturally subject to fluctuation depending on circumstance – as we all know well from recent experience – but it is also acknowledged by all parties that parameters, within which we can all operate, must be set as far in advance as possible, in order to facilitate the necessary planning process."
Amanda Blanc, PRB chair said:
"Success on the field requires a realistic and sustainable funding plan which I am delighted we have agreed. Our regional sides are crucial to the success of Welsh rugby and this funding agreement gives them greater confidence and certainty to plan for their future.
"The PRB has consulted extensively to deliver this agreement which provides a credible funding plan for our regional game. We must now work hard to seize this opportunity for the long-term health of the game we love."
Amanda Blanc, Independent PRB Member and Chair
David Buttress – Chairman, Dragons
Rob Davies – Chairman, Ospreys
Alun Jones – Chairman, Cardiff Rugby
Tim Moss, WRU Group Finance Director
Simon Muderack – Chairman, Scarlets
Marianne Okland, Independent PRB Member
Steve Phillips, WRU Group CEO