The famous rugby ground is being revamped and will host its first Ospreys in October.

Swansea Council has confirmed plans for a £7.6m investment to transform St Helen’s into a new home for professional rugby region the Ospreys which they believe will strengthen the club’s long-term commercial viability.

Preparatory work is under way on the first phase of redeveloping the ground, which will include a new pitch and a stand on the seafront side, as well as a new fan zone and community facilities.

A report to the council’s cabinet says the existing clubhouse will come under the local authority’s ownership – it already owns the ground – and will provide modern changing facilities, accessible amenities and flexible indoor spaces for sport and wider community use, including non-sporting events and functions.

A new 3G pitch will be repositioned closer to a newly-covered terrace to improve the atmosphere and spectator experience. The existing stand will be relocated to the Mumbles end, with a new stand seating close to 2,000 replacing it on the seafront side. A new fan zone and hospitality offer at the Guildhall end will create a focal point for matchdays and year-round activity.

The council said the revamped ground will also be used for grassroots sport, schools and colleges, while promoting healthier and more active lifestyles across Swansea.

Subject to cabinet sign-off, the council will make a £5.1m capital contribution with the Ospreys’ owners, Y11 Sport and Media, investing £2.5m. It was originally envisaged that the total investment at St Helen’s would be around £5m.

Y11 has acquired temporary stand infrastructure from Worcester Rugby to support the revamping of the historic ground. The Ospreys will enter into a 50-year lease with the council with an annual rent of around £100,000 per year, subject to inflation-linked reviews. The Ospreys will take full responsibility for matchday operations, including sporting and commercial. The upgraded ground and facilities will meet the standards required for the Ospreys to compete in the United Rugby Championship (URC) and European competition.

Swansea Council’s cabinet will discuss the proposals next week. Subject to health and safety assessments, the revamped ground will have a capacity for close to 7,000 spectators. Work is expected to be completed so the Ospreys can play their first home game in the 2026/27 URC season in October against the Dragons. Swansea RFC will also return to its historic home from Dunvant RFC. Swansea Cricket Club has relocated to Swansea Civil Service Cricket Club. Last year the Ospreys played at the Brewery Field in Bridgend.

Y11, which is majority-owned by Kuala Lumpur-based private equity firm Navis Capital, had been identified by the WRU as its preferred bidder to acquire Cardiff Rugby, which the union acquired out of administration last year. However, both parties walked from a proposed deal in April, having entered into an exclusivity period. The WRU has not disclosed what professional advisory fees it incurred before the planned deal was aborted.

The governing body, with the full backing of its board, is still looking to reduce the number of professional regions from the current four to three for the start of the 2028/29 URC season. It is expected to shortly provide details on how this will be achieved. One route would be for the Ospreys and the Scarlets to voluntarily merge, with the possibility of games being played between Parc y Scarlets and a revamped St Helen’s. However, if that is not forthcoming – and there is currently no indication that the two clubs would be open to such a move – they will find themselves having to bid against each other for a west Wales licence in a competitive tendering process from the union.

On its financial position, the Ospreys is the least indebted of the regions. A new permanent home at St Helen’s, with the option for future phases to increase the ground’s capacity, would strengthen the case for the Ospreys if it went head-to-head with the Scarlets to secure the west Wales licence. Last year the Llanelli-based club entered into a deal with US-based luxury asset broker House of Luxury, set up by Pontypridd-born Kirsti Jane Baker, which gave the company an option to acquire a majority stake in the club. However, little has been heard recently from the Montana-registered business on whether it still intends to invest in the club by taking a 55% interest.

The investment in St Helen’s comes as the Ospreys have confirmed they have entered into an improved funding deal with the WRU, by signing up to Professional Rugby Agreement 25. It now leaves only the Scarlets still on the financially inferior PRA 23 deal.

Abi Tierney, chief executive of the Welsh Rugby Union said: “PRA25 creates greater alignment across rugby in Wales, and I am very pleased that constructive discussions with Y11 Sport and Media have led to the Ospreys signing the agreement.

” Three out of four of our regional men’s clubs are now on PRA25 and due diligence work with the Scarlets is continuing. We look forward to having all of our men’s professional teams on the agreement ahead of the start of the next United Rugby Championship in September.”

Marianne Økland, chair of the Professional Rugby Board, said: “I have been very encouraged by the collaborative way negotiations between the WRU and the professional clubs have been conducted over recent months. This positive spirit is also evidenced by the meaningful progress made on the future model for the development pathways.”

Canara Robeco Flexi Cap Fund had a performance consistency score of 35% in the last five years. The risk compared to its peers has been low. In the investment style of the portfolio, the momentum based is medium, value based is low, and quality based is high. In the last five years, the fund gave 10.4% CAGR and had an AUM of Rs 11,922 crore.

The move comes after the company received approval from the Securities and Exchange Board of India (Sebi) to commence mutual fund operations.

The company’s maiden new fund offer (NFO) — a multi-asset allocation fund — will open for subscription on July 6 and close on July 20. The scheme will invest in equity and equity-related instruments, debt and money market instruments, as well as gold, silver and other permitted commodity exchange-traded funds (ETFs).

“We are targeting an AUM of Rs 25,000-30,000 crore in the next three to five years,” AlphaGrep Investment Management Chief Executive Officer Bhautik Ambani told PTI.

He said the asset management company will focus on quantitative equity and hybrid strategies driven by advanced mathematical models, artificial intelligence and machine learning.

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Following the launch of the multi-asset allocation fund, the company plans to introduce an open-ended dynamic equity scheme that will invest across large-cap, mid-cap and small-cap stocks.
“We will always try to launch products with a differentiation to offer investors,” Ambani said.Founded by Mohit Mutreja and Prashant Mittal in 2010, AlphaGrep is a global quantitative trading and investment firm. It has a headcount of more than 500 people and offices in around eight countries. Its mutual fund business is under AlphaGrep Investment Management.

AlphaGrep Investment Management currently manages more than Rs 2,000 crore in assets across its specialised Alternative Investment Fund (AIF) and Portfolio Management Services (PMS) platforms, including operations in GIFT City, as of February 2026.

The entry comes at a time when India’s mutual fund industry continues to expand rapidly. The country currently has 52 asset management companies managing assets worth more than Rs 85 lakh crore.

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