As Wales, Ireland, England, Italy Scotland and France bring this year’s competition to another exciting climax, the Guinness Six Nations is considering an offer from private equity firm CVC to sell a stake in rugby's oldest championship; with the Six Nations unions having been in talks for the past 18 months over pooling their commercial interests, a strategy dubbed 'Project Light'.

It is believed it could provide a windfall of more than £100m to each union but would mean partly surrendering control of the competition. Coming as the power-brokers of the world game meet in Dublin over the proposed Nations Championship,

If the Six Nations decide to sell to private equity, it would almost certainly kill the chances of the revolutionary Nations Championship getting off the ground. World Rugby will present its vision for the future of the sport following their meeting as the power-brokers of the world game meet in Dublin.

The interest from CVC - one of a handful of possible options - means the Six Nations face a dilemma between selling to private money, or embracing the World Rugby-sanctioned Nations Championship.

It is understood CVC's offer is for an approximate 30% share in the Six Nations. Sources at the unions have not denied an offer is on the table but insist a deal is not imminent.