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Swansea Council start legal action against the WRU and owners of the Ospreys

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It has also published details of a meeting where it was confirmed the Ospreys have no future as a professional outfit under current plans

The Ospreys' future as a professional rugby team looks over unless Swansea Council and fans can overturn the current plan

The Ospreys’ future as a professional rugby team looks over unless Swansea Council and fans can overturn the current plan(Image: Huw Evans Picture Agency Ltd)

Swansea Council has commenced early stage legal action against the WRU and Y11 Sport and Media as it published bombshell minutes of a meeting during which it says it was confirmed the Ospreys will cease to be a professional rugby region after next season.

The publication of key details from the meeting on January 22 between the leader of Swansea Council Rob Stewart, Welsh Rugby Union chief executive Abi Tierney and Ospreys CEO Lance Bradley sheds new light on what’s been happening behind the scenes.

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In those minutes from the hour-long meeting at Mr Stewart’s office at the Guildhall in Swansea, Bradley and Tierney are said to have confirmed the Ospreys’ fate and put forward the suggestion of a shock merger with Swansea RFC to form a team that will play semi-professional rugby at St Helen’s in Super Rygbi Cymru. That plan would see Swansea RFC effectively become the ‘Osprey Whites’.

Ms Tierney also said that a redeveloped St Helen’s could be used for alternative rugby uses. For reasons of confidentiality, the council said it could not disclose what they were. However, it is understood to have been St Helen’s possibly becoming the home to a new women’s professional side, as well as hosting men’s U-20 internationals.

Also present at the meeting, were the council’s chief legal officer, Lucy Moore, chief executive Martin Nicholls, director of place Mark Wade, director of finance Ben Smith, and head of communications Lee Wenham.

Following the meeting, Swansea Council publicly stated rugby bosses had indicated there was “no viable future for the Ospreys” under their plans. That statement was slammed by Ospreys CEO Bradley as “categorically incorrect” in an email to staff as he insisted he would have said if it was the case. WalesOnline has attempted to contact Bradley.

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The Ospreys have released a statement, though, saying: “Ospreys Rugby notes today’s statement from Swansea Council regarding discussions on the future of regional rugby in Wales.

“As has been stated previously, Ospreys Rugby continues to operate as a professional club and is focused on supporting its players, staff, and supporters while competing in the URC under existing agreements.

“No decisions have been made regarding Ospreys’ future past the 2026/27 season, and no statements have been made by Lance Bradley or anyone else associated with Ospreys which contradict that. Given the sensitivity of these matters, and the fact that they involve multiple parties and ongoing discussions, it would be inappropriate for Ospreys Rugby to comment on interpretations of meetings, unfinalised proposals, or legal correspondence.

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“Ospreys Rugby remains committed to constructive engagement with all stakeholders and will communicate directly and transparently when there is confirmed information to share.”

A WRU statement read: “We can confirm that we have received a pre-action letter from Swansea Council, alongside a public statement which is inaccurate in reference to a recent meeting we attended,” the WRU said.

“As you will understand we will be taking our own advice and so cannot comment on this at this time.

“This WRU Board has worked in good faith since it took office some two years ago to create a new way forward for Welsh rugby given the significant financial and performance issues we are all facing. “We appreciate that these are difficult issues for everyone concerned, but we have conducted ourselves with future long term success in mind.”

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Having taken external legal advice, Swansea Council has now sent pre-action legal letters to both Ms Tierney and chief executive of the Y11, James Davies-Yandle. It calls on WRU to pause plans for Y11 acquire Cardiff Rugby and consider maintaining the current number of regions at four.

They believe the process by which the the union is seeking to reduce the number of regions from four to three – via the demise of the Ospreys – is unfair on competition legal grounds.

The letter from Ms Moore, with legal advice from Nick De Marco KC and Mark Vinall of Blackstone Chambers, claims:

The council had agreed to provide £5m of funding to help redevelop St Helen’s as a permanent new home for the Ospreys, who this season are playing their homes games at Bridgend.

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That money has now been withdrawn as the council refuse to release it without assurances professional rugby will remain in Swansea.

The £5m would have been repaid over 50 years at an annual rent of £100,000 (inflation linked) paid by the Ospreys.

As part of the St Helen’s project the council has already incurred costs of around £1.5m, including the relocation of Swansea Cricket Club from St Helen’s to Swansea Civil Service Cricket Club with an improvement to the Sketty Lane ground.

The redevelopment of St Helen’s envisaged creating a new stadium with a capacity for more than 8,000 spectators, with a new all-weather pitch parallel to a refurbished north terrace with a new roof, new stands on the east and south sides and relocation of the current south stand to the west end of the ground.

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Swansea Council statement in full

Swansea Council has today released key details from a recent meeting with the Welsh Rugby Union (WRU) and the Ospreys where they outlined proposals on the future of regional rugby in Wales.

The Council has also issued pre-action legal letters to the WRU and Y11, owners of the Ospreys, calling for an immediate pause to the current restructure of Welsh rugby.

The meeting took place on 22 January 2026 between the Leader of Swansea Council, five senior council officers, WRU Chief Executive Abi Tierney, and Ospreys Chief Executive Lance Bradley, following a request from Mr Bradley.

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While the Council had intended to publish the full minutes, Y11, Ospreys and the WRU have all objected to it doing so. In order to be constructive, minimise the risk of unnecessary disputes, and avoid delaying vital information reaching the public, the Council has instead decided to release only the key facts which it believes it is clearly in the public interest to disclose.

During the meeting, the WRU confirmed its position that Welsh regional teams would be reduced from four to three. It was also confirmed that Y11, the owners of the Ospreys, are the preferred bidders for Cardiff Rugby, with a 60-day due diligence process already under way.

Mr Bradley outlined the Ospreys’ intended direction should the Y11 acquisition of Cardiff Rugby proceed:

There would not be a professional Ospreys team playing regional rugby at St Helen’s after the 2026/27 season.

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The Ospreys envisaged a potential merger with Swansea RFC (the Whites) after the 2026/27 season, with the merged team competing in the semi-professional Super Rygbi Cymru (SRC) rather than the United Rugby Championship (URC).

On the footing that there would be no URC regional rugby at St Helen’s if the Y11 acquisition completed, Ms Tierney explained certain potential alternative rugby uses for St Helen’s (the details of which remain confidential).

Council representatives left the meeting with a clear understanding that the basis of the WRU’s and Y11’s proposals for the future (if the acquisition of Cardiff Rugby by Y11 completed) was that the Ospreys would not continue as a professional regional team after 2026/27.

The Council expressed deep frustration that, despite extensive and recent discussions about the redevelopment of St Helen’s, it had not been informed earlier of these proposals. This lack of transparency and engagement is wholly unacceptable.

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Swansea Council is profoundly disappointed that such a significant decision affecting the city’s rugby future has been taken without proper consultation, fairness, or regard for the impact on Swansea, its people, its young players, and communities across the region.

The Council has serious concerns that the WRU’s restructuring proposals breach UK competition law and has issued pre-action letters to the WRU and Y11 requesting that they pause their restructure; reconsider proposals that would reduce the number of regions from four to three; and fully support efforts to secure the Ospreys’ future as a regional team in Swansea.

In its pre-action letter, the Council states:

The WRU’s decision to cut the number of professional regions from four to three is, by its nature, a restriction of competition and has not been carried out in a fair, transparent or non-discriminatory way.

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The process for allocating regional licences created an unfair distortion, effectively protecting Cardiff and Dragons while disadvantaging the Ospreys.

The WRU’s ownership of Cardiff at the time of these decisions created a clear conflict of interest, further compounded by its willingness to allow Y11, already owners of the Ospreys, to become preferred bidders for Cardiff Rugby.

This arrangement appears to rely on an understanding that the Ospreys would withdraw from competing for a regional licence, an outcome that is both anti-competitive and unlawful.

The Council will suffer loss as a result of these unlawful acts.

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By taking this step we are demonstrating clear and unwavering support for players across Welsh Rugby, particularly those, including Ospreys, who are preparing to represent Wales in this weekend’s Six Nations.

The Council remains resolute in standing up for the city and will continue to challenge the removal of regional rugby from Swansea.

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Micron Technology, Inc. 2026 Q2 – Results – Earnings Call Presentation (NASDAQ:MU) 2026-03-19

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q2: 2026-03-18 Earnings Summary

EPS of $12.20 beats by $3.47

 | Revenue of $23.86B (196.29% Y/Y) beats by $4.35B

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Nike and Ja Morant Unveil ‘Jurassic Park’ Sneaker Pack for Nike Ja 3

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Cristiano Ronaldo Portugal

MEMPHIS, Tenn. — Nike Basketball and Memphis Grizzlies star Ja Morant have partnered with the iconic “Jurassic Park” franchise to launch a themed sneaker pack for the Nike Ja 3, blending cinematic nostalgia with high-performance basketball design.

Memphis Grizzlies guard Ja Morant attempting to dunk the basketball during his rookie season in the NBA.
Memphis Grizzlies guard Ja Morant attempting to dunk the basketball during his rookie season in the NBA.

The collaboration, unveiled in mid-March 2026, features two distinct colorways — the “Raptor” and “Explorer” — inspired by the 1993 Steven Spielberg film and its enduring legacy. The pack draws from Morant’s personal affinity for the movie series, channeling elements like Velociraptor motifs, amber fossils and classic park branding into the signature silhouette.

The Nike Ja 3 “Raptor” (style code IU7240-001) adopts a menacing anthracite base with yellow ochre and bright crimson accents, mimicking the scaly texture and predatory vibe of the film’s raptors. Jagged overlays fade from golden yellow to dark grey, evoking dinosaur skin, while red “blood” accents on the branding add intensity. The tongue features the classic Jurassic Park logo in red, and the insoles display a duo of Velociraptors — one per shoe — that combine for a full scene when paired.

The “Explorer” (IU7240-300) pays homage to the iconic Jurassic Park tour vehicles, with a tropical-inspired palette including green and earthy tones. Details replicate the truck’s rugged aesthetic, complete with park emblems and subtle nods to the film’s adventure elements.

Both pairs include collectible extras: custom graphic insoles forming a dinosaur panorama, amber egg-shaped hangtags preserving Morant’s logo like the movie’s DNA-trapped mosquito, and special packaging that extends the theme. The design continues the narrative-driven approach that has defined the Ja 3 line since its 2025 debut, with Morant emphasizing personal storytelling in his signatures.

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The pack releases Friday, April 10, 2026, at 10 a.m. ET via Nike SNKRS, Nike.com and select retailers. Pricing starts at $135 for men’s sizes, $112 for big kids (GS) and $97 for little kids (PS). Full-family sizing ensures accessibility for collectors and young fans alike.

The collaboration arrives amid a strong rollout for the Ja 3, Morant’s third signature model. Since launching in August 2025, the shoe has gained traction for its low-to-the-ground feel, responsive cushioning and bold aesthetics tailored to Morant’s explosive style. Earlier 2026 drops included playful themes and homages, but the Jurassic Park pack stands out for its scale and cultural tie-in.

Morant, sidelined at times this season due to injuries, has remained a creative force off the court. He has teased unreleased Ja 3 looks on social media, building hype for upcoming releases. The “Jurassic Park” project marks one of his most ambitious co-design efforts, blending his love for the franchise with Nike’s storytelling expertise.

Sneaker enthusiasts and film fans have reacted positively to the reveal, with early images generating buzz on platforms like Instagram and X. Commentators praise the attention to detail — from the amber hangtag to the combined insole art — as elevating the pack beyond typical athlete collabs.

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The drop aligns with broader trends in basketball footwear, where narrative-driven partnerships increasingly dominate. Nike’s success with licensed IP collaborations, including past film and pop culture tie-ins, positions this pack for strong demand.

As April 10 approaches, anticipation builds for what could be one of the standout releases of 2026. For Morant, the project reinforces his influence in sneaker culture, extending his impact beyond the hardwood.

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Albanese Says Fuel Supply Is Secure as ACCC Investigates Major Fuel Suppliers

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Anthony Albanese
Anthony Albanese
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Prime Minister Anthony Albanese is assuring Australians that the country’s fuel supply is secure amidst the ongoing Iran war.

His assurance comes as the Australian Competition and Consumer Commission (ACCC) announced that it will be investigating the country’s major fuel suppliers.

Fuel Supply Is Secure, Says Albanese

According to a report by Sky News, Albanese has reminded Australians to only take fuel that they need and avoid hoarding.

“I want to assure Australians at this time that Australia is well prepared. Our fuel supply is currently secure. However, I want us to be over prepared,” said the prime minister.

“I reiterate today my message to Australians is please do not take more fuel than you need,” he added. “That is how you can help. That is the Australian way.”

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Albanese has also assured that more measures that will help Australians will be announced in the coming days

ACCC Announces Investigation on Major Fuel Suppliers

His comments come just as the ACCC announced that it is investigating major fuel suppliers in the country over alleged anti-competitive conduct. Albanese has confirmed that the investigation has been launched and that he is aware of it.

According to The Guardian, among the major fuel suppliers that will be investigated are Ampol, BP, Mobil and Viva Energy.

As part of the investigation, the ACCC will look into reports about diesel availability for independent wholesalers and distributors in regional and rural parts of the country.

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“It is not our usual practice to publicly announce investigations, but given the significance of the issue, the ACCC is confirming this enforcement investigation,” ACCC Chair Gina Cass-Gottlieb said in a statement.

“It is important that fuel market participants and the community know that we are closely watching market conduct in relation to all fuels and we will not hesitate to act swiftly to enforce Australia’s competition and consumer laws,” she added.

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‘A buy-on-dips pick’: Why HDFC Bank is getting backing from analysts despite management blip

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'A buy-on-dips pick': Why HDFC Bank is getting backing from analysts despite management blip
Shares of HDFC Bank have come under pressure following the sudden resignation of chairman Atanu Chakraborty. Still, analysts are increasingly viewing the correction as a buying opportunity rather than a structural red flag. The stock’s decline on Thursday has pushed valuations into what some analysts describe as a “deep value” zone. The stock has lost about Rs 1 lakh crore in today’s trade.

Market analyst Deven Choksey said that the correction has brought the bank into a deep value zone, though he acknowledged that a governance discount may now be factored into valuations. However, most analysts tracking the situation do not see the development as a fundamental concern.

Ishan Tanna of Ashika Capital said that the exit appears more like a tactical opportunity. “The recent resignation of the Chairman looks more like a buy-on-dips opportunity rather than a structural concern,” he said, adding that the bank’s long-standing reputation for strong governance and processes offers comfort.

Read More: Rs 1 lakh crore wiped off! HDFC Bank shares slump 9%, set to record worst day since Covid crash

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Tanna also pointed to management commentary suggesting that the issue was not linked to regulatory or compliance lapses. “It seems to be more about differences in value systems, and not related to any regulatory or compliance problems,” he said.


This iew is broadly echoed across the street. According to sources cited by ET Now, Chakraborty’s resignation was not triggered by any concerns from the Reserve Bank of India, but followed prolonged differences over certain practices that did not align with his personal values.
Paresh Bhagat, CIO at Veer Growth Fund, noted that the development should be viewed in context. “We view the resignation… as non-material to HDFC’s fundamentals. The absence of any stated business or financial concerns reinforces that this is a governance-level change rather than an operational signal,” he said.He added that continuity at the top management level remains intact, which is critical for execution. “Leadership continuity under MD and CEO Sashidhar Jagdishan remains intact, and the presence of Keki Mistry provides further governance stability,” Bhagat noted.

The bank has also sought to reassure investors. In an analyst call, management emphasised operational continuity and indicated that the exit does not impact the bank’s day-to-day functioning or long-term strategy.

That said, some governance experts have called for greater transparency. Shriram Subramanian of InGovern said the bank should provide more clarity on the circumstances surrounding the resignation, even suggesting that both the company and the regulator should issue detailed statements to address investor concerns.

The uncertainty stems from Chakraborty’s resignation letter, in which he cited practices that were “not in congruence” with his personal values and ethics, without elaborating further. The lack of specifics has led to questions, even as the absence of regulatory triggers has prevented panic.

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From a broader perspective, analysts note that HDFC Bank’s core fundamentals remain intact. The bank continues to benefit from strong retail franchise, stable asset quality and long-term growth potential following its merger with HDFC.

While the benefits of the merger are still playing out, the institution remains one of the most closely tracked financial stocks in India, with valuation sensitivity often driving short-term price movements.

For now, the market appears to be pricing in a limited governance overhang without significantly altering the long-term thesis.

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Malaysia and Indonesia: Key LNG Exporters in Southeast Asia

Malaysia and Indonesia are among Southeast Asia’s leading LNG exporters, supplying major energy importers across Northeast Asia for decades. Malaysia’s LNG industry is centered around substantial liquefaction facilities in Sarawak, while Indonesia’s exports are managed through major terminals in East Kalimantan and West Papua. These nations together hold a significant share of ASEAN’s LNG export capacity, playing a vital role in regional energy trade and ensuring regional energy security.

Investment Opportunities in the Regional LNG Sector

For international investors, Malaysia and Indonesia present unique opportunities. Malaysia’s market offers investments linked to its established export infrastructure, offshore gas production, and LNG trading operations. Conversely, Indonesia’s prospects are expanding, driven by new upstream gas discoveries, large-scale LNG projects, and rising domestic demand, which creates a dynamic environment for future growth and investment.

Growing Demand and Competitive Advantage in Asia

Both countries benefit from the rapid increase in global LNG supply and Asia’s growing demand. Southeast Asian LNG shipments, reaching Northeast Asia within three to six days, enjoy a transportation advantage over US Gulf Coast cargoes, which take 20-30 days. Malaysia exports around 26-27 million tonnes annually, while Indonesia exports approximately 15-16 million tonnes, mainly to Japan, China, and South Korea, reinforcing their strategic importance in the region’s energy landscape.

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Read the original article : ASEAN’s LNG Export Leaders: Investment and Energy Trade Opportunities in Malaysia and Indonesia

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