Guinness PRO12
NG Dragons need new owner to fulfil 'aspirations' - Stuart Davies
ESPN Staff
April 6, 2016
© Harry Trump/Getty Images

Newport Gwent Dragons chief executive Stuart Davies says the region is looking to become independent because it has "aspirations that rely on further investment".

The Dragons, the only region partially owned by the Welsh Rugby Union, announced on Tuesday evening that they were looking for new owners.

Currently Newport RFC and the WRU each own a 50 percent stake but both are prepared to relinquish control once a suitable investor is found.

"We're not doing this because we've had approaches, we're doing this because we have aspirations that rely on further investment," Davies told the BBC.

Davies admitted that any potential investor would need to be "involved for the love of the game" rather than to make money.

He also confirmed the region's name could be changed under new ownership, but insisted that the Dragons' long-term future was not in any doubt.

"It's incumbent on us all to find fresh investors, but if they don't come forward, it's business as usual," he said.

According to Tuesday's club statement, Davies has been working on a potential sale for the past year, with a strategic plan signed off in Jun. 2015.

The Dragons are currently 10th in the 12-team PRO12, languishing 18 points adrift of ninth-placed Ospreys, and have been the lowest-ranked Welsh side in eight of the last 12 seasons.

© ESPN Staff

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