The Welsh Rugby Union's group finance director Tim Moss is set to leave the governing body at the end of the month, WalesOnline has learnt.
Moss' departure couldn't have come at a worse time with Wales' four professional sides yet to receive their first instalment from the WRU since signing a six-year agreement last month.
There are now three massive voids to fill within the WRU who are searching for an independent chair, a chief executive and now a new finance director.
READ MORE: Henry Thomas axed by club for choosing Wales as he reveals call that's turned life upside down
WalesOnline understands Moss has been replaced on an interim basis by the WRU's group financial controller Dan Mills.
There is a sense the game in Wales is at a significant crossroads with the four professional sides struggling on and off the field, while development pathways need to be significantly improved.
What is of the gravest concern is the financial situation Welsh rugby finds itself in.
The professional game in Wales is about to enter a period of austerity with playing budgets expected to drop to as low as £4.5million for the 24/25 season, while player wages are being aggressively driven down.
All four regions have not received their first instalment because the contract requires Welsh Government approval due to a current loan agreement it holds with the WRU.
The most troubling existing loan agreement is the £20million CLBILS loan the WRU took out on behalf of the four regions in 2020 at the height of the Coronavirus pandemic.
In March 2022 the WRU negotiated a refinancing of the loan with the Welsh government.
Currently, the four regions are receiving central payments from the previous financial agreement with the WRU but are in desperate need of the first instalment of the new Professional Rugby Agreement.
However, the WRU need consent from Natwest and the Welsh Government to release these monies to the four regions.
Following months of uncertainty which included a contractual freeze and the very real threat of Wales' players striking ahead of their Six Nations clash with England, a new deal was finally signed last month with the WRU insisting it would give the regions financial clarity and predictability.
But this has not been the case yet with the benefactors of all four sides ensuring the players have been paid on time but there is no doubt the current situation is unsustainable.
READ NEXT:
The rival international players who could one day switch allegiance to Wales
Dai Young investigation set to drag into summer as Cardiff face difficult period
Popular Welsh rugby player becomes title-winning coach at just 32 as he makes waves in England
The teams most in need of a tighthead as Wales hopeful Henry Thomas weighs up next move after axe
