Scarlets set for US takeover
The deal will eventually see American-based company HOL take control of the Welsh region
The Scarlets have entered into an agreement for a new strategic partnership with House of Luxury LLC (HOL) that will eventually see the American-based company take control of the Welsh region.
HOL is an international luxury asset agency and, under the terms of the proposal its sports and entertainment investment division, headed by former Welsh Rugby Union chief executive David Moffett, will acquire a 55 per cent controlling stake in Scarlets.
Moffett's team of directors includes Dan Biggar, the 112-times capped Wales outside-half who retired from playing at the end of last season.
Scarlets executive chairman Simon Muderack said: "The new deal with HOL puts the Scarlets in control of its own future as we act boldly to move forward with a partner that will add significant resources and ambition."
The announcement comes as the Welsh Rugby Union considers whether to cut its four regional teams to two or three in a radical restructure of the domestic games, with the decision expected to be made in October.