Cardiff Rugby will 'continue at Arms Park' despite Ospreys merger speculation
- Published
Cardiff are the only one of the four Welsh regional sides to qualify for next season's top tier European Champions Cup
Cardiff Rugby have distanced themselves from speculation of a potential merger with fellow Welsh side Ospreys.
But in a statement Cardiff admitted they have considered offers for the shareholding of former chairman Peter Thomas, who died last March.
However, Cardiff confirmed the team "will continue and will remain at Cardiff Arms Park".
"Cardiff Rugby would like to clarify our future following media reports and speculation," read the statement.
"Following the sad passing of life president Peter Thomas earlier this year there were always going to be changes at the club.
"The Thomas family have nevertheless continued to support us and have underwritten the new agreement with the Welsh Rugby Union (WRU), for which we are enormously grateful.
"We have now received the first allocation of WRU monies, with the remainder scheduled for early next month. This agreement secures the club's future for the four-year term of the agreement, albeit with reduced budgets."
Wales' four professional rugby sides, Cardiff, Ospreys, Dragons and Scarlets, have been under financial pressure, with a drop in funding and then a subsequent delay in receiving expected monies.
A new six-year deal between the WRU and the teams was signed in March.
Under the agreement, salary caps will be introduced for the 2023-24 season - £5.2m reducing to £4.5m for the 2024-25 campaign.
But the deal - a new Professional Rugby Agreement (PRA) that will run until 2029 - required a number of organisations to give their approval, including most notably the Welsh Government because of a current loan agreement it holds with the WRU and regions.
That saw the regions in some cases unable to offer player contracts, with players opting to leave for more secure deals outside Wales - while there has long been speculation that the financial situation could see one of the regional sides cut or merged with another to leave Wales with three teams.
Cardiff's statement at least confirms the continuation of top-level rugby in Wales' capital city for the foreseeable future.
"Since Peter's sad passing, there have inevitably been numerous enquiries and approaches around the purchase of his shareholding," the statement continued.
"It is our board's duty to listen to, and consider, all approaches that could improve our revenues and strengthen the club moving forward. These conversations are commercially sensitive and therefore confidential at this stage.
"Professional rugby is undoubtedly facing significant challenges across the whole game, but Cardiff Rugby will continue and will remain at Cardiff Arms Park.
"We are looking forward to the new season and a return to the Champions Cup, with the squad returning for pre-season last week.
"We truly appreciate the continued support of our loyal fan base at this time and will issue further communications as and when appropriate. In the interim, we thank you for your continued patience."