THE Welsh Rugby Union are expected to outline their proposed takeover of Newport Gwent Dragons tomorrow afternoon.

The Dragons have been hunting fresh investment since last April but, despite having a number of leads, have failed to finalise any deals.

That led to the governing body, currently joint-owners of the region along with Newport RFC, entering discussions to takeover in an agreement that would also see them take control of the Black and Ambers’ Rodney Parade home.

It has been mooted that Newport RFC would be given a 10-year lease to play at the stadium.

Talks have been held up by a number of setbacks – most recently over Newport Squash Club’s long-term lease at the ground and over the length of a commitment to playing professional rugby in the city – but the WRU have called a press conference for Wednesday afternoon at Principality Stadium.

Even if a proposed deal has been agreed between the Union and Dragons chiefs, it will need to be given the rubber stamp by Newport RFC shareholders.

If the Black and Ambers are to sell their historic home then it needs the backing of 75 per cent of Newport RFC shareholders. There are around 1,000 listed shareholders and it would be one vote per shareholder.

That is far from a done deal.

The Friends of Newport Rugby met with WRU chief executive Martyn Phillips and chairman Gareth Davies to express a number of concerns last week.

They have grave fears about selling their home, the brevity of such a short lease to remain there and the loss of the ability to generate income from their asset.

Dragons and Newport chief executive Stuart Davies, who met with FoNR after their talks with the Union, is scheduled to meet with Dragons supporters in the Bisley Suite at Rodney Parade at 7pm on Thursday to give them an update.