Ospreys become the third Welsh team to sign a contract with the WRU

The Ospreys’ deal came in the week They announced a loss of £1.8m for their last financial year.

A statement from the region said: “This agreement, which runs until the end of the 27-28 season, signals a period of stability for the region.

“A key element of the new agreement is that it provides greater collaboration with the WRU, particularly with increased alignment towards the game.

“Work is now underway on the Ospreys’ new stadium in St Helens, and now that the PRA has been signed, the region looks forward to continuing its proud history as a key player in Welsh rugby.”

WRU chief executive Abi Tierney confirmed the Scarlets were yet to sign the deal which the governing body said was to “establish financial stability and build the foundations for success in all areas of professional sport in Wales”.

Tierney said: “I am delighted that constructive discussions with Y11 Sport and the media have resulted in the signing of the Ospreys contract. Three of our four regional men’s clubs are now in the PRA25 and due diligence with the Scarlets continues.”

Marian Auckland, Chair of Welsh Rugby’s Professional Rugby (PRB) Board, said: “I have been very encouraged by the collaborative discussions between the WRU and the professional clubs in recent months.

“This positive spirit is also evidenced by meaningful progress in future models of development pathways.”