Cardiff Blues chairman Peter Thomas is to step down after more than 20 years in the role at Cardiff Arms Park.
Thomas, who played for Cardiff RFC in the 1960s, will remain on the board of directors and write off all of his debts, worth more than £11m.
Thomas will also take up a new role as life president of the region.
"It has been an honour to serve as chairman of Cardiff RFC and Cardiff Blues since the advent of regional rugby," said Thomas.
"I feel this is the right time to take a step back. I will remain on the board of directors and look forward to supporting the new chairman, whoever that may be.
"I am confident in the plans in place and look forward to the region building on the success of winning the European Challenge Cup."