Ireland's bid to host the 2023 Rugby World Cup kicked off in anger last month, with the unveiling of projected stadia, along with the showing of the obligatory Liam Neeson Narrated Video.
Obviously, we have our fingers crossed that we land the tournament, and it has emerged today that Wales are hoping that we land it too.
Wales Online report today that an agreement dating back to 1998 means that the IRFU will be obliged to send 20% of the profits to the Welsh Rugby Union. The original agreement was struck to enable Wales be the principal host of the 1999 World Cup. In return for the backing of the Irish, Scottish, English and French unions, Wales allowed their neighbours to host some of the games from that tournament. It is believed that the IRFU benefitted to the tune of £4 million at the time.
The compromise made in 1998 was a reciprocal one: and it saw Wales benefit in hosting games during the 2007 World Cup (hosted by France) and last year's competition (hosted by England).
The agreement between Wales and Ireland was seen by Wales Online, and here's what it says:
IRFU represents, warrants and undertakes that, in relation to the relevant tournament (regardless of who its hosting partners may be), it will pay to the WRU (or procure the payment to the WRU of) a sum by way of a fee equal to at least 20% of the net financial benefits in relation to such relevant tournament.
Such sum shall be paid to the WRU within 120 days of the conclusion of the final match of such relevant tournament.