London Welsh Rugby Club Limited and Premiership Rugby (PRL) have reached agreement in respect of a settlement on funding.

The agreement follows a series of positive meetings over recent months resulting in the execution of an agreement between London Welsh, PRL and each of the PRL shareholder clubs.

The amount is confidential, but chairman Bleddyn Phillips had been looking for £2m.

He said: “We are delighted that we have now reached a settlement, which addresses certain aspects of our central funding to date and we are grateful to PRL, the RFU and their executive for the support in achieving this.

"We believe that this agreement is in the best interests of London Welsh, the PRL shareholders and the RFU.

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“On behalf of the club, I would also like to thank and pay tribute to all our supporters, sponsors and stakeholders for their patience and understanding in bearing with the club in recent months as we have conducted the negotiations, which ultimately resulted in the agreement signed earlier this week.

"Their support has been tremendous and unfailing, for which everyone involved in the club is most grateful.”

Mark McCafferty, chief executive of Premiership Rugby, said: “We’re pleased with the agreement reached with London Welsh on our respective issues which has been achieved in a constructive way and which allows the club to focus now on the future.”

Meanwhile, Seb Jewell, Alan Awcock, Nic Reynolds, James Lewis and Will Robinson have signed new deals with London Welsh.

The versatile Jewell has made 94 appearances for the Exiles in all competitions since joining the club in 2011 from Wasps.

A double Championship winner with Welsh, Jewell can play full back, fly half or centre.

Awcock has scored five tries in 38 appearances for the Exiles.

The winger/full back featured heavily for Welsh in the club’s 2013-14 Championship-winning campaign, including in the play-offs, and has made six Premiership appearances so far this season.

Reynolds joined Welsh in 2014 from the Scarlets and has scored five tries in 24 appearances for the club this season.

The former Wales Under 20 centre made 54 appearances for the Scarlets, including scoring five tries, in his five seasons at the region.

Lewis has scored 18 tries in 81 appearances for Welsh since scoring on his debut for the club against Birmingham & Solihull in November 2010.

The centre, also a double Championship winner with the Exiles, has represented Wales at Under 16, 18, 19, 20 and Sevens.

A product of the Wasps Academy, Robinson has made huge strides in his two seasons at London Welsh.

In 12 Premiership appearances for the Exiles this season, Robinson has scored 34 points to take his total tally for the club to 161 points in 34 appearances.

London Welsh director of rugby Steve Lewis said: “We are very pleased that this group of players have all shown their loyalty and commitment to London Welsh, and it is a clear reflection of our ambition to win promotion again next season.

"Many of these players have been on other club’s radars, but have chosen to stay with the club.

“We have been working very hard behind the scenes for some time and will announce further re-signings very soon, as well as some exciting new additions to the squad.”