The Welsh Rugby Union has ended negotiations to sell Cardiff to the Ospreys' owners, Y11 Sport & Media, after a period of exclusivity expired. Abi Tierney, WRU chief executive, confirmed Cardiff will remain under the governing body's ownership for now, despite Y11 presenting what was considered the best bid. The collapse of talks leaves the future of Welsh rugby's regional structure uncertain.

This development comes as the WRU pushes ahead with controversial plans to reduce the four professional Welsh sides to three by the 2028-29 season. The governing body aims to cut one team and award three new licences, with Cardiff, a side in the east, and one in the west. The WRU has earmarked £28 million for pathway investments over the next five years and remains committed to commercial growth in the professional game.

Meanwhile, Ospreys and Scarlets have yet to sign the new Professional Rugby Agreement (PRA25), which runs until 2030, while Cardiff and Dragons have already committed. The WRU's long-term strategy faces resistance from regions concerned about potential financial disadvantages, particularly regarding investment in Cardiff. Despite the current stability of four sides for the next two seasons, the WRU's determination to reduce to three teams signals ongoing upheaval in Welsh professional rugby.