The Welsh Rugby Union has entered an exclusivity period with Y11 Sport & Media, the owners of the Ospreys, to discuss a potential takeover of rivals Cardiff Rugby. The WRU board unanimously approved the move, choosing Y11 over a consortium involving former Cardiff director Martyn Ryan. No deal is final, with negotiations continuing for weeks.

This follows Cardiff's entry into administration in April 2025, after which the WRU took over the club. The governing body has proposed cutting one of Wales's four men's professional sides. A Y11 takeover would allow Cardiff and the Ospreys to effectively merge, facilitating that reduction and meeting the WRU's goal of a three-licence system for the 2026-27 season.

World Rugby regulations forbid one entity from owning two clubs in the same competition, so the Y11 ownership structure would need adjustment. Meanwhile, the proposed £4m redevelopment of the Ospreys' St Helen's ground in Swansea awaits clarity on Welsh rugby's future. WRU chief Abi Tierney is set to face a parliamentary committee on Wednesday to address these concerns.