The announcement, which took place on Wednesday 22nd March, was released following both parties reaching a ‘heads of terms’ agreement. The deal would see the WRU take over the Dragons both on and off the field and has a targeted completion date of the 1st July 2017. The WRU also plans to make investments in the Rodney Parade pitch and stadium, and provide WRU expertise and resources.
The proposed transaction includes the purchase of Rodney Parade in its entirety. It has been ratified by the Boards of the WRU, Newport RFC and the Dragons, however, it is conditional upon being supported by 75% of the shareholders of Newport RFC at a meeting to be convened in early May.
On completion of the proposed
Since the announcement just a week ago, Dragons and Newport RFC CEO Stuart Davies has met with both Newport Gwent Dragons supporters and Newport RFC supporters to discuss the proposed deal, as well as hosting a breakfast meeting with sponsors. This important and immediate engagement with key stakeholders was the forerunner to the release of further information as we move towards the shareholders’ meeting.
Outside of the general information release, the shareholders’ pack will obviously contain everything that is required in order to fully consider the proposal. Following the meeting with Newport supporters on Monday
In the meantime, further updates will be provided via a variety of media and other channels.
