NEWPORT Gwent Dragons chairman Martyn Hazell says it's an immediate deal-breaker if any potential investors approach with a desire to move away from Rodney Parade.

The region have announced plans to attract fresh backers with Newport RFC and the Welsh Rugby Union willing to give away their shares.

There would be a clean slate for new backers with Hazell and fellow board member Tony Brown writing off the vast sums that they have pumped into Rodney Parade over the years.

But given that the Dragons have no assets other than players – they will lease Rodney Parade off the Black and Ambers while Caerphilly council own their Ystrad Mynach training base – there are fears that a new owner could potentially move the franchise elsewhere.

However, Hazell says he won't sign over control unless it is in writing that professional rugby stays at the iconic ground in Newport.

"Rugby is staying here, I've not done all of this for the last 15 or 20 years to let rugby disappear," said the 79-year-old.

"That's a priority. We built the Bisley Stand for the Dragons and Newport RFC. It's a Gwent team and should stay and play here. Where else are they going to play?"

Chief executive Stuart Davies was keen to stress that the search for fresh investment starts now and that the move isn't a response to interest from outside parties.

Given that the current hierarchy have previously made no secret of the desire for new blood, Hazell believes the coming weeks will be crucial in discovering whether there is an appetite for coming on board.

"I would feel despondent if we are still looking this time next year and I feel that if someone is going to invest then the approach will be in the next month or so. There's no timescale for it but it's not going to drag on, I might be wrong," he said.

"I think someone will come forward – we can't make the proposal any better than this can we? It's ready for somebody to take the Dragons on.

"There is potential here, it just needs some more money and a fresh approach. The board all want the same thing."

The push for fresh investment has led to the debate over the controversial Newport Gwent Dragons name being reignited and Hazell admits new blood would have to address the issue in the future.

"It's been a mishmash from day one hasn't it? I am not sure it's right now but that's not the most important thing at this time, I wouldn't want to start changing names tomorrow," said the chairman.

"Every time you want to move it to Gwent, the Newport people object to it, and every time you want to do Newport, the Gwent people object."