An agreement has been reached between the Welsh Rugby Union and campaigners hoping to create a fifth rugby region.
Plans were submitted to the WRU earlier this year for 'Valleys Rugby' in the South Wales Valleys.
Under the proposals it would be part-owned by the community, with the majority of matches played at Sardis Road.
At today's meeting, held at Cardiff's Millennium Stadium, a series of objectives were agreed based on a pledge by Valleys Rugby to seek out funding from within the UK and Europe.
– Owen Smith MP
I am pleased we have made an important breakthrough in our negotiations with the WRU and have had the opportunity to explain our plans in detail and align our aims. An astonishing 8,500 people have signed up to pledge £100 each in the community funding model we have championed for Valleys Rugby and that proves the depth of enthusiasm which exists for our ideas.
– WRU Group Chief Executive, Roger Lewis
I applaud the ambition and drive behind Valleys Rugby and the WRU will always seek to support initiatives which have the potential to improve the game in Wales. Owen Smith is now well placed to unlock new monies for rugby in all of Wales and in particular Valleys Rugby. We will support Mr Smith in his endeavours to source new funding for the game.