Ospreys’ agreement has come in the week they announced a £1.8m loss for their last financial year.
A statement from the region read: “The agreement, which runs until the end of the 27-28 season, signals a period of stability for the region.
“A key element of the new agreement is that it provides for greater collaboration with the WRU, including growth of alignment on the playing side in particular.
“With work now underway at Ospreys’ new stadium at St Helen’s, and now the signing of the PRA, the region is looking forward to continuing its proud history as a key player in Welsh rugby.”
WRU chief executive Abi Tierney confirmed Scarlets have yet to sign the agreement which the governing body says “is aimed at establishing financial stability and creating the foundations for success in all areas of the professional game in Wales”.
Tierney said: “I am very pleased that constructive discussions with Y11 Sport & Media have led to the Ospreys signing the agreement. Three out of four of our regional men’s clubs are now on PRA25 and due diligence work with the Scarlets is continuing.”
Chair of Welsh rugby’s Professional Rugby (PRB) Board Marianne Okland said: “I have been very encouraged by the collaborative way negotiations between the WRU and the professional clubs have been conducted over recent months.
“This positive spirit is also evidenced by the meaningful progress made on the future model for the development pathways.”
