THE Dragons will be back in private ownership by July after Wales’ four professional sides signed a six-year deal with the Welsh Rugby Union.

The governing body and the quartet have thrashed out an agreement until 2029 and as part of that contract the Rodney Parade club will no longer be owned by the WRU.

The Argus understands they have 90 days to complete the deal.

The Union increased their 50 per cent share and took over the region in the summer of 2017, buying the nine-acre site from Newport RFC in the process.

They paid £2.85million for Rodney Parade, wiped off an existing £900,000 loan and gave the Black and Ambers a cash sum of £600,000.

Chairman David Buttress, who was appointed the following September, has been in talks with investors about taking the club back into private ownership.

South Wales Argus: Dragons chairman David ButtressDragons chairman David Buttress (Image: Huw Evans Agency)

The former Just Eat chief executive signed the new funding deal with the WRU and will now ensure they are in the same boat as the privately-owned Scarlets, Ospreys and Cardiff.

The Argus understands that Buttress is in a good position to do that before the deadline with a long-term lease for the Rodney Parade stadium site ready to be signed off.

Newport County AFC are also in the final stages of completing a new lease to keep using the historic ground despite a number of off-field departures, most notably chairman Gavin Foxall.

The WRU will retain the northern section of the site, featuring the ‘cabbage patch’ and derelict clubhouse, for potential development.

Under the agreement, salary caps will be introduced for the 2023/24 season, with “fixed” and “fixed and variable” deals available to players.

Contracts for players of “national interest” will be agreed by the club and the WRU performance director.

Uncertainty over the deal had led to the threat of Wales players refusing to play against England in this season’s Guinness Six Nations.

PRB chair Malcolm Wall said: “It is no exaggeration to say a great deal of work, time and effort has gone into establishing an agreement all parties can be happy with and which is designed to achieve the very best results for Welsh professional rugby from the resources available to us.”

WRU CEO Nigel Walker added: “Our objective has been to achieve a sustainable future for our four professional sides and for Wales and credit must go to all involved now this has been achieved.

“The cooperation between the WRU, our professional clubs and the WRPA has been a vitally important part of this process and we will continue to work together for the future benefit of Welsh rugby.

“We now have a structure which will provide a backdrop of stability from which we can build.”