A TAKEOVER of Newport Gwent Dragons is nearing a conclusion with the Welsh Rugby Union set to be heavily involved in a deal for the Rodney Parade region.

The Dragons have been hunting for new financial backers since last April and, after a number of false dawns, are hopeful of getting a deal over the line.

There are still a number of hurdles to cross but the WRU, currently joint-owners with Newport RFC, have been active in the process and the hope is that their greater involvement will in turn attract more private investment in the struggling region.

The pace of talks has increased since the turn of the year and a deal could be struck in the coming weeks.

The full form of the governing body's involvement at Rodney Parade – whether attracting fresh owners to take the reins, taking over completely themselves or working alongside investors – is yet to be rubber-stamped.

However, WRU chief executive Martyn Phillips went on the record in January in stating that his determination to help professional rugby succeed at Rodney Parade.

"There is no way that I'd be able to stand here and not have a professional club in Gwent without knowing that I'd done everything I could," he said.

"If it came to that we'd have to look at it and whether we could afford it, but my view is that professional rugby clubs going forward have to have a combination of union funding and private investment.

"Most of nations either have that or, if you take Scotland and Ireland as examples, they are looking at constitutions to allow private investment to come in."

The Dragons have held talks with a number of investors over the past year with the governing body's presence adding credibility to such talks.

"Whether it's as governors or joint-owners of the Dragons, the union have been very close to this process all along," said chief executive Stuart Davies in January.

"They've been shoulder to shoulder with us on this but the model and the aspiration in terms of an independent Dragons - new investment, new ownership - all that remains."

The hope is that Union involvement will in turn attract fresh backing to allow rugby to thrive at Rodney Parade after years of underachievement.

The Dragons look set to finish as Wales' lowest-ranked region for the tenth time in 14 seasons and currently operate with a meagre budget.

They have plenty of young Gwent talent on their books in the form of Hallam Amos, Ollie Griffiths, Ashton Hewitt, Tyler Morgan, Elliot Dee, Harri Keddie and Leon Brown but investment is needed to help such prospects fulfil their potential.