"It was vitally important for the players, coaches and fans to know that there will be a European competition next season. That is the starting point for us all, as is the fact that each of the six participating Unions has agreed to enter teams.
"What will follow is the fine detail, but the Welsh regions can look forward to playing European rugby next season.
"We have been here before in Europe. There were only teams from four nations in the first year and we had to live without the English clubs in the 1998-1999 season. But the show went on, and the Heineken Cup has grown in stature year on year as a result.
"Last week we made contingency plans to ease the financial pain our regions would feel if there were no European tournaments. Now they can look forward to a much brighter financial picture next season - thanks to today's declaration.
"As a Union we will continue to discuss, in conjunction with our regions, every possible way to maintain the highest standard of European competitions. Ideally we would like the Guinness Premiership and French Championship clubs to remain in the fold and the door remains open for that possibility.
"However, there is now a clear mandate for a European competition to take place next season and we will work as hard as possible to ensure it is a success."
Here is the statement issued by ERC:
ERC statement: Following a meeting of ERC's shareholders in Dublin today (Wednesday April 11th), it was agreed that a European club rugby tournament will be staged in the 2007-2008 season, to include teams from all six of the current participating nations.
The structure of the tournament will be discussed and agreed by the ERC Board in the coming weeks.
The ERC shareholder meeting was attended by representatives from the six participating unions and club representatives from England and Italy and a regional representative from Wales.