The question ringing around Welsh rugby this week – who are Y11 Sport and Media who could own half of Wales’ professional rugby sides?
Y11 remain a mystery, lurking in the background but now becoming one of the major influences in Welsh rugby.
In their own words they are a “diversified sport and media investment house, working with founders and their teams to maximise potential and reach collective goals.
“We transform heritage into legacy, potential into success, familiar into iconic.”
Practically, they are an Asia-based investment firm, with the main office listed in Singapore, headed up by James Davies-Yandle.
He was born in the Ospreys area and played hockey for Wales at the 2002 Commonwealth Games.
Davies-Yandle, who is based in Thailand, admitted his family background, with his father having played for Swansea, played a part in the May 2020 takeover of Ospreys.
That remains one of his only interviews. We have heard little since.
Since then, Y11 have acquired a 25% stake in New Zealand side Hurricanes, are involved with South African side Cheetahs and were previously linked with taking over Ealing Trailfinders.
Y11 and the WRU are confident one organisation can own both sides in the same competition and that they are not in breach of World Rugby Regulation 14., external
World Rugby have been asked to clarify, while the United Rugby Championship (URC) bosses have refused to comment.
While there is the usual disdain directed towards the WRU from the public, there is lots of anger directed from among fans towards Y11 over the way they have handled this process, with the acquisition of Cardiff regarded by some as a betrayal of Ospreys.