Something simply has to be done, and sharpish as well. The regions need to draw bigger crowds, but fans simply won't want to see struggling teams that can't compete in Europe, and this could be the case in a couple of season, if not next season depending on how the regions cope. I wouldn't be surprised to see a further dip in crowds next season, resulting in even less cash to retain players. There may be some good talent coming through the academies, but there's every chance that the regions will lose them aswell once they have been developed. No region could cope with their best players being cherry picked every season, and this is at risk of happening. We only have to look at Connacht to see how losing your best players every season or two effects results, they are simply unable to compete, and the Welsh regions could end up like this if something isn't done.
Central contracts looks like the only possible way to halt the exodus, unfortunately we've already missed the point that they should have been implemented. The WRU should have seen the glaring warning signs last season when Phillips, Byrne, Hook, Mitchell etc. left the Ospreys, and acted quickly to set something up to try and retain players like Gethin Jenkins. Unfortunately they didn't, so now we've gotta do something to stop the next wave of players possibly leaving next season like Jamie Roberts, Halfpenny etc.
Over to you WRU.