The collapse of talks between the WRU and the four regions means that each of the regions is facing a shortfall of around £1.6 million next season, while money from the new European competitions will not begin to flow until October.
The BBC offers a very confused take on the latest developments here, while the Guardian provides a more straight forward account here.
Judging from comments on Scarlet Fever, the Scarlets supporters' forum, Roger Lewis and Dai Pickering, chief executive and chairman of the WRU respectively, would be well advised to stay away from Llanelli for the foreseeable future.
The Scarlets were supposed to have filed their accounts for the year ending 30 June 2013 by the end of March. They still have not done so.
The Western Mail is not alone in wondering what is going on. Back in April the paper was told that the accounts would be filed after the May board meeting. That came and went.
Then a couple of days ago it was told:
“The accounts have not been filed because it was agreed at the Scarlets board meeting in May that we should not file accounts until we could confirm WRU agreement and therefore the forward revenue of the business with auditors.
“At this point, there is still no formal agreement with the WRU in place to date despite ongoing meetings and discussions. Without a formal agreement with the WRU there is still uncertainty on the levels of funding within professional regional rugby in Wales.”
This afternoon Regional Rugby Wales issued a statement announcing that no agreement had been reached with the WRU despite "an incredibly tortuous process", and that the four regions would now have to give urgent consideration to a business model that does not include any form of agreement with the WRU.
Whatever happens next, don't expect good news.