The Dragons have been owned by the governing body since 2017 but that will change in the coming weeks.
A heads of terms agreement was signed on Friday afternoon that will lead to a consortium headed by chairman David Buttress taking over the club and also buying the nine-acre Rodney Parade site.
The Dragons will now be privately owned like the Scarlets, Ospreys and Cardiff, with the quartet in the same boat as they attempt to negotiate challenging times for the professional game.
“This is a hugely positive day for rugby in Newport and across Gwent, but also for the whole of Welsh rugby,” said interim WRU chief executive Nigel Walker.
“The Dragons returning to private ownership was a vital piece in the jigsaw for our new long-term, six-year agreement for the professional game in Wales and to bring about the sustainability and success it demands.
“Credit must go to David and his fellow investors for their passion and commitment to Dragons RFC. “We know that these are difficult times for the professional game globally, but this news puts the Dragons in a strong position to thrive in the years ahead.”
Details are yet to be revealed about the deal but, with budgets being cut, the other trio ensured the WRU drove a hard bargain.
Professional Rugby Board chair Malcolm Wall said: “This is the very best news for the Dragons, for Newport, for Gwent but also for the whole of Welsh rugby.
“David and his fellow investors have come through for the Dragons, but they have also helped to safeguard the integrity of the competitions they play in.
“All parties involved, including those at the WRU who have worked long and hard on reaching this agreement, should be very proud.”
Richard Collier-Keywood, who will take over from WRU chair Ieuan Evans in July, believes the agreement suits all.
He said: “This is a moment for everyone in Welsh rugby to be proud of and I commend all those involved in reaching this agreement.
“We have reached a deal here that has been fashioned in the very best interests of all involved, which will see future sustainability and success at the Dragons and which will help secure the long-term future of the professional game in Wales. “This is a day for celebration and optimism in Welsh rugby and we are grateful to all those who have helped us reach this point.”
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