posted on Jul, 6 2004 @ 02:07 PM
The Welsh Rugby Union are close to receiving a double boost as they look to ease their debt, which stands at around £70million.
The WRU have won permission from the Millennium Commission to sell part of the naming rights to the world-famous Millennium Stadium.
This means the word 'Millennium' would remain but be preceded by the name of a sponsor.
Chief executive David Moffett is also close to clinching a deal with Barclays Bank and BT to reschedule repayments on loans made to the governing body
and make the interest payments more affordable.
The union hope to make a formal announcement on their improved financial outlook before the end of the month.