Welsh rugby’s four professional teams say they have reached “a new six-year framework” which they hope can resolve the game’s financial issues.
The news came a day after the Welsh Rugby Players Association warned of players departing unless a freeze on contracts and recruitment is lifted.
Ospreys, Dragons, Cardiff and Scarlets “endorse and sympathise” with the players.
“We regret how long discussions have taken so far,” said the teams.
“But we are pleased to confirm that, as of this morning, we have verbally agreed a new six-year framework for professional rugby in Wales. It is now incumbent upon all parties to finalise the detail of this agreement in consultation with players, coaches and staff.
“The entire game in Wales, both professional and grassroots, faces significant and unprecedented challenges, which require collaboration, a clear strategy and decisive action.
“We all want to conclude ongoing PRB (Professional Rugby Board) discussions as soon as possible to ensure strong professional regional clubs, a successful national team and a thriving community game.
More to follow.