The WRU says it has chosen its preferred bidder to take over Cardiff Rugby.
Two separate bids were considered by Welsh rugby's governing body, which stepped in to take over the region last April after it briefly fell into adminstration.
According to unconfirmed reports, it's believed Y11 Sport & Media, who currently own rival club Ospreys, has won out over a consortium that included former Cardiff director Martyn Ryan and a group of three US-based film and TV producers.
Further talks are expected to be held with the preferred bidder - with the aim of reaching a binding agreement in the coming weeks.
Following a meeting on Monday, an WRU spokesperson said: "The board reviewed in detail the final two bids and unanimously approved the proposal to move forward with a preferred bidder into an exclusivity period."
"Following this decision, the WRU has obligations to liaise with a number of stakeholders over the next few days."
"We will then discuss the decision with the two bidders and the management of Cardiff Rugby and we expect to be in a position to have completed this by next week."
"The WRU hopes to finalise the detailed negotiations with the preferred bidder and sign a binding agreement within a matter of weeks."
The announcement comes amid ongoing uncertainty over the future of the professional regions with one of the four clubs set to be cut within two years.
It's expected both Cardiff and Dragons will survive, leaving either Ospreys or their West Wales rivals Scarlets facing the axe.
But last week, one Cardiff supporters group, the CF10 Rugby Trust, warned against a takeover by Y11.
Their chair, Lynn Glaister, told BBC Radio Wales: "Another owner of another club taking us over would see Cardiff branded as the team who killed off another team for ever."
Meanwhile, WRU chief executive Abi Tierney and chair Richard Collier-Keywood are expected to be quizzed at MPs on Wednesday when they give evidence to a Welsh Affairs select committee looking at the future of the game in Wales.
---
Elsewhere, head coach Steve Tandy is preparing to name his Wales squad for the Six Nations on Tuesday.
Cardiff duo Mason Grady and Evan Lloyd are both fit and expected to be in contention having both started in Sunday's European Challenge Cup defeat against Exeter.
Bristol Bears star Louis Rees Zammit is an injury doubt after he suffered a blow to the head in their Prem Rugby win over Sale earlier this month - but the Penarth-born wing is likely to play some part in his first tournament in two years, since abandoning his bid for an NFL career.
But Wales will be missing number eight Taulupe Faletau for at least the first three games - against England, France and Scotland - after he suffered a calf injury during Cardiff's New Year's Day defeat to Ospreys.
Barry fall short against St Albans
Centenary Year Begins as Barry Swimming Club Celebrates 100th AGM
Young Bombers go top after Ponty win
Barry beaten as Legg returns
Llantwit bow out of WBS Cup
Barry Ladies learn Phase Two fixtures
Rees-Zammit returns to face England
Legg returns as Barry Town boss
Cameron turns out for Gloucester U17s
Patten rejoins Barry on deadline day
Wrexham hit Barry Ladies for six
Why Llantwit Major's roads lead to Rome...
Barry scrape past Rhiwbina in youth league
Rangers sign keeper Kelly on loan
Barry fall to Welsh Cup upset
Barry's Welsh Cup run reaches Sunny Rhyl
Evans equalises on Llantwit return
