The 2015 rugby world cup has been saved after the International Rugby Board agreed to bring forward its review into the way profits from World Cups are distributed.
The tournament, to be held in England, had been under threat because New Zealand, Australia and South Africa all said they would not be able to afford to take part under the current financial formula, claiming this World Cup will cost them a combined $50 million in lost revenue.
However a meeting last night involving the ten largest unions ended in agreement, with the chairmen and chief executives of the tier-one nations to review the way money from World Cups is distributed as well as relaxing restrictions on teams' sponsors.
The New Zealand Rugby Union chief executive, Steve Tew, says although the deal is not yet done, the top nations have now all committed to the 2015 world cup.
Steve Tew says the top nations have also agreed to play midweek games at the 2015 world cup to ease the tough schedule faced by the tier two nations.