THE Millennium Stadium is not for sale, insists Glanmor Griffiths, (pictured) who is resigning from the Welsh Rugby Union after 18 years.

WRU chairman Griffiths is leaving the country to join his son, daughter-in-law and grandson in Australia, as revealed in yesterday's Argus.

He leaves amid mounting financial pressures, a situation he admits could become worse before it gets better.

But he says the WRU should not be worried about it, and though WRU group chief executive David Moffett, who he helped appoint, has hinted that the stadium could be sold to avoid financial disaster, Griffiths insists that will not be necessary.

"The stadium is not for sale," he said at a Friday afternoon press conference at which tributes were paid to him by WRU vice-chairman David Pickering and Russell Goodway, leader of Cardiff council.

"I'm concerned at the debt of £60m," he admitted. "But our bankers are patient and supportive. In 20 years' time we will look back and say 'what a wonderful jewel the stadium is' and the borrowing will be cleared.

"The debt of the stadium has not cost jobs. The stadium company made a profit and recently had a rate reduction of £350,000, putting us significantly into profit.

"We haven't reduced the capital, but for such a small country of 2.8 million people we would not be able to take on a project of £400m like the Wembley project, we could not afford it.

"Wembley will cost well over £800m with no retractable roof and will carry a debt of £500m.

"But we have a jewel in the crown which will be here forever.

"England, Ireland and Scotland will all declare losses. Next year will be tough again because there are no autumn internationals and there is the cost of the World Cup.

"We have got to cut more and we will look to the executive team to take action." Griffiths also believes the good times will return on the field after a run of seven successive defeats for Wales.

"The under-21s have won the Grand Slam, the under-18s were unbeaten and we will have a new £10m centre of excellence at Bridgend, the finest in the world," he said.

"What we lack is success at international level. I'm not proud of the whitewash in the Six Nations, but two or three years ago under Graham Henry we won 10 games in a row including England, France, Argentina and South Africa for the first time. The good times will come again."

Griffiths admits he has not topped any popularity polls, but says: "I am probably at my best when my back is to the wall.

"I've taken criticism, but I rarely get credit when things go right.

"But I would like to think I am not walking away. I'm proud of my country, every drop of my blood is Welsh and I'll always be ready to help."

But he insists his decision to go is final. "Remember Graham Henry saying 'I'm leaving for Wales and I'm going tonight'? Well, I'm going south, but not today. Though I could be in Australia for the World Cup."

l Matthew Watkins, the Llanelli and former Newport centre, is flying out to New Zealand to join the Wales tour party as replacement for Gareth Thomas, who had to pull out for domestic reasons.