The Welsh Rugby Union (WRU) has hailed the deal for the Dragons to go into private ownership and purchase Rodney Parade, describing it as a positive day for Newport and Gwent. The Dragons have been owned by the WRU since 2017, but a heads of terms agreement signed on Friday will see a consortium led by chairman David Buttress take over the club and acquire the nine-acre Rodney Parade site.
The move will bring the Dragons in line with the Scarlets, Ospreys, and Cardiff, who are already privately owned. This change in ownership is seen as crucial for the long-term sustainability and success of professional rugby in Wales, especially considering the challenges facing the sport in general.
Interim WRU chief executive Nigel Walker expressed his delight with the deal, stating, This is a hugely positive day for rugby in Newport and across Gwent, but also for the whole of Welsh rugby. The Dragons returning to private ownership was a vital piece in the jigsaw for our new long-term, six-year agreement for the professional game in Wales and to bring about the sustainability and success it demands.
Walker also praised the passion and commitment of David Buttress and his fellow investors, acknowledging the difficult times faced by the professional game globally. The exact details of the deal have not been released, but it is clear that negotiations involved budget cuts in light of the financial strain caused by the current situation.
Malcolm Wall, chair of the Professional Rugby Board, echoed the sentiments, describing the agreement as the very best news for the Dragons, for Newport, for Gwent, and for the whole of Welsh rugby. Wall applauded the efforts of David Buttress and the other investors, highlighting their contribution to safeguarding the integrity of the competitions the Dragons participate in.
Richard Collier-Keywood, set to take over from WRU chair Ieuan Evans in July, emphasized that the agreement benefits all parties involved. He stated, We have reached a deal here that has been fashioned in the very best interests of all involved, which will see future sustainability and success at the Dragons and which will help secure the long-term future of the professional game in Wales.
Overall, the news of the Dragons transitioning into private ownership has been met with celebration and optimism within Welsh rugby. The agreement is viewed as a significant step towards ensuring the continued growth and success of the sport in Newport, Gwent, and throughout Wales. The WRU, along with the Dragons’ new owners, are appreciative of the support received throughout the process and look forward to a promising future for professional rugby in the region.
