If a deal with Y11 was to be achieved, Ospreys fans will fear they could eventually disappear as a professional outfit.
That would not happen before the WRU could do a deal with the United Rugby Championship (URC) to reduce the number of Welsh sides in the league, with a replacement currently being sought.
The four professional sides, including Scarlets and Dragons, could still be in existence for the 2026-27 season.
If a deal is confirmed, the Y11 ownership issue would have to be looked at because World Rugby regulations prohibit organisations from owning two sides in the same competition.
Regulation 14 states: “No individual, body corporate, partnership, trust or any other entity may directly or indirectly own or control more than one club except with the prior written consent of the Union concerned, or where clubs from different Unions are involved, the written consent of the Unions concerned and World Rugby.”
It remains to be seen what would happen with the proposed redevelopment of the St Helen’s ground in Swansea which has been earmarked as the Ospreys’ new home.
Swansea Council had backed the scheme but was waiting for news of Welsh rugby’s revamp before releasing funds of more than £4m for the project.