Asian based group Y11 Sports & Media has taken a "multi-million" majority share of the Ospreys, the Welsh rugby franchise announced on Wednesday.

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The firm has acquired 75.1% of the four-time league winners who almost merged with rivals the Scarlets last year and have the likes of Wales captain Alun Wyn Jones in their squad.

"For some time now we've been planning a radical shift of gear and, from that, over 12-months of hard work and strategic planning has led to this new partnership," the side's chairperson Rob Davies said.

"We needed to secure the success of the past, whilst embracing fully the future and that is what we are now doing together. We're thrilled by the opportunities ahead," he added.

The PRO14 season has been suspended since mid-March with June's final cancelled due to the coronavirus pandemic and the Swansea-based outfit lies bottom of Conference A after just two league wins.