WELSH Rugby Union chairman Gareth Davies says it was with reluctance that the governing body launched a takeover bid for Newport Gwent Dragons – but believes it’s the only option for safeguarding rugby at Rodney Parade.

The WRU are currently joint-owners of the Dragons with Newport RFC but have proposed a deal that would see them take over completely on July 1, along with buying the Black and Ambers’ historic ground.

They reached an agreement with the Dragons board but the deal hinges on the support of Newport RFC’s shareholders.

An EGM will be held in the second week of May with 75 per cent of those voting needing to give the green light.

That is far from a done deal with many Black and Ambers expressing their concerns at losing their asset without the benefit of a long-term lease to remain at their famous home.

When asked on BBC Radio Wales about the WRU's "aim" to take over the Dragons, the former Rodney Parade chief executive said: "Just to correct that terminology, I don't think it's our 'aim' to take over the Dragons.

"We find ourselves in a position where we've been in constant dialogue with the Dragons for the last probably 18 months now in terms of their situation, tried to help them look for investment and we've approached them with one option and, as I understand it now, it's the only option available in terms of moving the region forward, safeguarding professional sport in Gwent and also safe-guarding semi-professional sport at Rodney Parade.

“Now I know, understand and get the emotions but as far as I can see, and we've gone through various numbers, exercises, spreadsheets and what have you, we don't really see any other option.”

The Dragons currently owe around £1million to both the WRU and Handelsbanken while Friends of Newport Rugby have asked for clarification about how much of secured loans to directors Martyn Hazell and Tony Brown, around £1.5million and £3million respectively, will be written off in the event of a no vote.

WRU chief executive Martyn Phillips admitted at the announcement of the proposal that the deal comes down to trust in the absence of a long-term lease for either the Dragons or Newport while Davies rebuffed notions of it being a ‘land grab’.

“We are doing this for rugby reasons,” he said on March 23. “I have seen, I’ve read, I’ve heard a lot of nonsense, the fact that this is a property deal, asset-stripping, we are moving to north Wales, we are doing a myriad of things.

“This is a rugby reason. Our strategy is based on four regional professional entities to compete, hopefully successfully, in the various competitions and supply players for the national team.

“This transaction allows the opportunity for the Dragons to consolidate, regroup and develop, and for Newport RFC to continue to play at Rodney Parade.”

Newport and Dragons chief executive Stuart Davies has pledged to hold consultation meetings with supporters before the EGM and provide more information in the pack that will be sent out to shareholders.

WRU chairman Gareth Davies on BBC Radio Wales: http://www.bbc.co.uk/programmes/p04z8lxy