The Welsh Rugby Union (WRU) says negotiations with the owners of Ospreys to also buy Cardiff have fallen through.
The WRU confirmed in January 2026 it had entered a period of exclusivity on the sale of Cardiff with Y11 Sport & Media, which owns Ospreys.
That period expired in March but was extended by 30 days until Wednesday, 22 April.
The WRU and Y11 have "jointly agreed the Ospreys owners will withdraw from the bid process" for the proposed purchase of Cardiff after “constructive discussions” and Cardiff will remain under WRU ownership.
No details have been given as to why negotiations broke down, with WRU chief executive Abi Tierney only confirming Cardiff would remain under the governing body's ownership for now.
“Y11 presented the best bid for Cardiff but the WRU has concluded it is in the best interests of Welsh rugby for Cardiff to remain under our ownership for now,” said Tierney.
"We are all very grateful to Y11 for the professionalism and commitment to Welsh rugby they have displayed throughout this process."