A deal that would see the Welsh Rugby Union become the majority stakeholders in Newport Gwent Dragons is expected to be completed this month.
Dragons announced last April they were seeking further investment but a sale of the region has not materialised.
The WRU owns a 50% stake in the Dragons, with Newport RFC owning 50%.
Talks are still ongoing between the WRU, the region and potential external investors but an agreement is close between the three parties.
Dragons had previously targeted 'independence' from the WRU - who were willing to sell their current 50% stake in the region - but further involvement from the Welsh Union is thought to be attractive to potential investors.
"Whether it's as governors or joint-owners of the Dragons, the union have been very close to this process all along," Dragons chief executive Stuart Davies told the BBC in January.
"They've been shoulder to shoulder with us on this."
The Dragons have finished as the bottom Welsh region in eight of the past 12 seasons and are currently tenth in the Pro12, above only Treviso and Zebre.