The Welsh Rugby Union (WRU) has given up its right to 20% of any profits should Ireland be selected to host the 2023 World Cup, writes Stephen Barry.

That agreement, which could have been worth millions to Welsh rugby, has been annulled in order to “protect the integrity of the host selection process”.

The reciprocal deal was struck between the unions in 1998 and enabled Wales to host the 1999 World Cup, while also using venues in Ireland, England, Scotland and France. Those four unions received a share of the profits, with the IRFU believed to have been paid £4million at the time, according to WalesOnline.

Since then the tournament has grown dramatically and the WRU accept they’ve been suitably recompensed as “the spirit of the original agreement has already been fulfilled”.

It means that the WRU, who have members on the World Rugby Council which will decide the tournament host in November, won’t stand to potentially profit as a result of the vote.

WRU chairman Gareth Davies said: “The general consensus from the Board was that, while the WRU had claim to compensation as part of any bid from the IRFU, the spirit of the original agreement has already been fulfilled.

“The best thing for the selection process is for us to be able to put an end to any speculation about this historical agreement and we are pleased to do so.

“We now look forward to playing our part in maintaining the highest standards of fairness, transparency and professionalism in the RWC 2023 host selection process.”

A statement from the Rugby World Cup Ltd (RWCL) Board, the World Rugby-owned subsidiary who organise the tournament, welcomed the announcement:

“The RWCL Board welcomes the WRU Board’s decision today to annul the historical agreement with the IRFU regarding the hosting of Rugby World Cup 1999.

“The IRFU is a Rugby World Cup 2023 candidate union and RWCL’s responsibility is to ensure and protect the integrity of the host selection process, which continues to be conducted in line with the highest standards of transparency, fairness and professionalism.

“RWCL is satisfied that the proactive action taken today by the WRU will appropriately protect the integrity of the Rugby World Cup 2023 host selection process.

“RWCL would like to thank the IRFU and the WRU for their full cooperation and support.”

France and South Africa are Ireland’s rivals to host the tournament, with the decision set to be made in November.