Matt Lloyd
BBC Sport

What a day it has been in Welsh rugby, following the announcement that one of the professional regions will be cut by 2027.

The Welsh Rugby Union unveiled its plans to only fund three teams based in Cardiff, east Wales and west Wales.

That has certainly left the future of Ospreys (based in Swansea) and Scarlets (in Llanelli) up in the air given they are only guaranteed funding until June 2027.

There is sure to be a huge fallout from today's announcement and you can follow all the reaction on the BBC Wales news and sport websites over the coming days... and weeks!

A tectonic day for Welsh rugby.

Here is the latest if you are just catching up.

• Welsh rugby's governing body has announced it will cut one of Wales’ four professional teams by 2027.
• The Welsh Rugby Union (WRU) said it will honour its current funding commitment to all four regions.

• The WRU will reduce the number of teams being funded to just three "as soon as possible", possibly by next season in 2026-27.
• The three teams will be equally funded, initially by £6.4m each per year and rising to £7.8m, with one based in the east, one in Cardiff and one in the west.
• If current regions cannot come to a consensus as to how that will be decided - such as a merger - then the WRU will open a tender process for the three licences.

As Welsh rugby bosses decide to cut the number of professional sides from four to three, Gareth Rhys Owen speaks to WRU director of rugby Dave Reddin about the decision and what happens next.

Matt Lloyd
BBC Sport

Image source, Huw Evans Picture Agency

Cardiff say they are "relieved", Dragons are "encouraged", Scarlets are "confident" while Ospreys remained bullish about their future as the regions reacted to today's announcement.

The Welsh Rugby Union (WRU) says the three remaining teams will have one based in the east, one in Cardiff and one in the west.

While there has been no indication of which of the current four teams remain most in jeopardy of disappearing, the plan taken on purely a geographical assumption seems to put Cardiff and Dragons in pole position - with Ospreys and Scarlets battling it out to be the sole survivor in the west.

However, WRU chair Richard Collier-Keywood insists Scarlets and Ospreys are not competing against each other - despite the plan being to have only one professional side in west Wales in future.

If current regions cannot come to a consensus as to how that will be decided - such as a merger - then the WRU will open a tender process for the three licences.

Alun Wyn Jones
Former Wales captain on Scrum V

We always seem to time these things right don't we... just before an autumn campaign!

Having been in a similar situation in the past, these things can galvanise a team.

I was fortunate in my time that there were people around the team that protected us from the "suits" and we had success on the field because of that. It was success that should have grown the game but it didn't.

For the current team, those boys play the game because they love it and they've got some big games coming up with a new coach so the pressure has just gone right up another level. It's a baptism of fire for them.

I hope they can knuckle down and get a siege mentality within the camp to galvanise them for the autumn.

Jonathan Davies
Wales and British & Irish Lions centre on Scrum V

It's not an attractive prospect for any investor to only have control of commercial interests at any of these regions. Why would they put their money in if another source is making decisions?

All this talk of licences makes it sounds like sport in America, where franchises move cities.

But you're not going to get Scarlets applying for the east licence because that's not where the fans are from.

It feels they [WRU] are spinning words to suit the narrative they want.

If you're going to have an east region then they're effectively going to be called the Dragons, so why not just say that? They're almost denying it and that's the lack of transparency we're seeing.

Alun Wyn Jones
Former Wales captain on Scrum V

We were all told to take heritage and emotion out of this process and that sparked a flair in me.

The WRU represents more than just a business, and feels a bit to remove your provenance and where you belong to sort this out.

Yes, you need a business to run the game but you need people and passion to play it.

Jonathan Davies
Wales and British & Irish Lions centre on Scrum V

It feels as though Scarlets and Ospreys have been left to fight things out between themselves.

That doesn't feel a fair process.

I get that Cardiff is the capital with the biggest population but should it come down to performance.

The process began with talk about elite performance and Wales' two most successful regions so far have been Scarlets and Ospreys, but they've been told today that only one is going to last.

Ashton Hewitt
Former Dragons wing on Scrum V

It's the change that many were asking for but this is going to have huge implications.

It has been a very bumpy road but still there is so much uncertainty and players and staff are still in the same position of a lack of security and worry.

Plenty of people have been asking me whether it has always been the plan to originally say we're cutting to two and then settling on three doesn't seem so bad.

Jonathan Davies
Wales and British & Irish Lions centre on Scrum V

It's sad that it's almost real now.

There are still a lot of questions that need answering and it feels as though the process is only just starting.

Ideally there would have been a clearer hand a long time ago for everyone involved in Welsh rugby.

Alun Wyn Jones
Former Wales captain on Scrum V

The outlook is probably what was expected. Everyone said there needs to be change but the disappointing thing is that this is just the end of the start.

We've had two years of unknowing.

Richard Collier-Keywood spoke about a "clear plan" but had we had one of those earlier then we wouldn't have been in this position.

It would have been something players, coaches and everyone at regions would have wanted a long time ago. A lot of time has been wasted.

A lot more could have been done to help regions perform better and for players to perform better. It hasn't been fair on the players with the jeopardy that has been hanging over their careers.

We have not looked after those people and it hasn't been fair.

It's been a huge day for Welsh rugby.

Here is the latest if you are just catching up.

• Welsh rugby's governing body has announced it will cut one of Wales’ four professional team by 2027.
• The Welsh Rugby Union (WRU) said it will honour its current funding commitment to all four regions.
• Ospreys and Scarlets have deals until June 2027 and Cardiff and Dragons until 2028.
• The WRU will reduce the number of teams being funded to just three "as soon as possible", possibly by next season in 2026-27.
• The three teams will be equally funded, initially by £6.4m each per year and rising to £7.8m, with one based in the east, one in Cardiff and one in the west.
• If current regions cannot come to a consensus as to how that will be decided - such as a merger - then the WRU will open a tender process for the three licences.
• The WRU insists the pool of talent and finances within Welsh rugby means only three professional teams are able to be either sustainable or competitive.

Ceri Coleman-Phillips
BBC Sport Wales rugby reporter

Still want more?

There's a Scrum V special from 19:00 tonight on BBC One Wales, BBC iPlayer, BBC Sport online and simulcast on BBC Radio Wales & Sounds. You can also watch live by clicking play at the top of the page.

Join Lauren Salter and guests Alun Wyn Jones, Jonathan 'Fox' Davies and Ashton Hewitt who will dissect all of today's news.

Danielle Herbert
BBC Radio Wales

Welsh rugby will face a talent drain under plans to cut one of its regional rugby teams, according to former Wales prop Chris Horsman.

Horsman also played for Celtic Warriors - one of the original five teams created when Wales switched from club to regional sides - who were disbanded after just one season in 2004.

Speaking to BBC Radio Wales Drive he said: "What's going to happen over this next two years is that players are going to leave, coaches are going to leave, because there's going to be so much uncertainty.

"Are companies going to invest in our regions? And if we lose, say, 30% of that talent pool and coaches and 30% of this potential investment, do we then have enough talent in the future to go down to even three teams?

"And that for me is the biggest problem."

Image source, Huw Evans Picture Agency

Image source, Huw Evans Picture Agency

Dragons chairman David Wright says the WRU's decision to retain elite rugby in Gwent is the "correct decision".

"I’m pleased that the WRU has accepted that," he said in a statement.

"We’ll carry on talking to the Union and hope to reach agreement on a sustainable operating model.

"The last few months have been difficult and uncertain for the Dragons community. We are so grateful for the continued support of everyone connected with our club."

Danielle Herbert
BBC Radio Wales

The indecision surrounding the future of Wales' rugby regions is "not fair" according to the chairwoman of Cardiff's CF10 Rugby Trust.

Lynn Glaister told BBC Radio Wales Drive: "The devil is in the detail and we have no detail.

"This was supposed to be a day of clarity, [it] has created further uncertainty.

"It's not fair on the fans and the players of all the clubs.

"We are pleased that Cardiff will have a team but we need to know that it will be Cardiff and at the Arms Park."

WRU chair Richard Collier-Keywood and director of rugby Dave Reddin defended their positions at today's press conference.

Image source, Huw Evans Picture Agency

Ospreys' statement is short and sweet.

The region simply said: "Ospreys are Wales’ most successful region, having won more league titles, produced players who’ve won more Welsh caps and been selected for more British and Irish Lions tours than any other region.

"We will continue to engage with the WRU with the intention of reaching an agreement which continues that proud tradition.

"Our intention is and always has been to find a solution which works in the best interests of Welsh rugby and Ospreys Rugby, not only at an elite level but across the entirety of the game and the communities involved in it."

Image source, Huw Evans Picture Agency

Scarlets have now responded to today's proposals.

Their board of directors say they're "confident that the club will continue to play a central role in the future of the game in west Wales".

“We recognise the scale of change the WRU has outlined and as a club we will engage constructively and professionally," their statement said.

“We believe it is in everyone’s interests to reach a solution as quickly as possible to bring stability back into our game.”

Scarlets say they are encouraged that the WRU recognised during the consultation that "brand, cultural identity, heritage and connection to Welsh language is irreplaceable".

“Rugby must stay connected to its communities, people and history and its values. That’s what gives our game its soul.

"We want reform that strengthens Welsh rugby. With Scarlets in the future structure, Welsh rugby keeps a proven talent pathway, an internationally respected brand and a first-class home for rugby at Parc y Scarlets," the statement added.

Gareth Rhys Owen
BBC Radio Wales commentator

Let's not beat about the bush. I think one of those sides will not exist in a year or two.

Ospreys or Scarlets? Ospreys or Scarlets...

Now, they may exist as the Ospreyian Scarlets, or they may be a team that shares an identity between Swansea and Llanelli.

I think, ideally, the Welsh Rugby Union want to see a merger. And at this point in time, they are common enemies, and they have a kind friendship between them.

But they will start finger pointing and looking at each other. They both have their strengths.

I think Ospreys represents Swansea, a larger population. It's a large city. It has much success. It's probably the most successful Welsh region over the past 20 years. It does not have the heritage of the Scarlets. It does not have the stadium of the Scarlets, although the Scarlets themselves do not own it. It's owned by Carmarthenshire Council.

So, right now, it's valid to think that if you are a supporter of either of those regions, you should be worried.

And also, the plans for Swansea Council to redevelop St Helens, that is thrown completely up in the air, because would they want to pump any more money into it, knowing that there's uncertainty about the team's future?

It's greyer than it was this morning, although we do have some clarity about there being one team being cut.