This paragraph is confusing:

"Cardiff City, Newport County, Swansea City and Wrexham have agreed to exclude any profit derived by representing Wales in UEFA competitions for financial regulations in the English Football League or the English Premier League."

So are we seriously saying that the four league clubs are prepared to give up the possibility of qualifying for Europe via the Premier League, the FA Cup or the League Cup, and the obvious financial rewards that would come with such a qualification, in order to play in some tinpot Welsh competition that they cannot profit from?

This idea sounds worse every time I read about it.