Ospreys in shock takeover

Sport Writer

THE Ospreys have been taken over in a shock “multi-million pound deal” with an Asian-based sports marketing group.

Y11 Sports & Media have acquired a majority 71.5% shareholding in the rugby region, heralding what they claim will be the ‘long-term transformation’ of the Ospreys.

A new holding company Ospreys International Group - has been established, with Y11 CEO James Davies-Yandle and his business partner Donald Tang taking their places on the Ospreys Rugby board of directors.

Ospreys chairman, Rob Davies who along with the other pre-existing shareholders will collectively retain a 24.9% stake - continues in his role.

Davies said: “Since the advent of regional rugby, the Ospreys have always aimed to be its pioneers. We haven’t been afraid to do things differently and to push the envelope. Today’s announcement is us doing the same again.

“For some time now we’ve been planning a radical shift of gear and, from that, over 12-months of hard work and strategic planning has led to this new partnership with Y11.

“It was essential we found a partner who shared our ambition and vision, but with the cultural understanding, expertise and resources to propel the region and community all into a new era.

“We needed to secure the success of the past, whilst embracing fully the future and that is what we are now doing together. We’re thrilled by the opportunities ahead.

“We are confident all our stakeholders and partners will be as excited about this development as we are.

“We have confided in the Welsh Rugby Union Executive and kept them fully aware of this development and now we look forward to planning for the Ospreys future.”