The participation of the South African franchises in the Champions Cup from next season, via qualification from the United Rugby Championship, will act as a stepping stone towards this goal.

"EPCR has signed a new eight-year agreement which I believe is a triumph of negotiation and shared objectives between the leagues and unions of Europe. This will guarantee the long-term future of both the Heineken Champions Cup and the EPCR Challenge Cup," wrote Halliday in his departing statement. 

"At the same time, this will create clarity for the international and club calendar. The players and all rugby fans will be delighted as for them, the European tournaments have become a vital piece of their season's ambitions.

"From this new agreement, we are now working on the participation of the South African provinces and building towards a Club World Cup every four years which would replace the latter stages of the Heineken Champions Cup.

"Together with our improved formats, reduced pool matches, and more knockout rugby, EPCR is in a great position to grow. Our newly formed board is superbly well-equipped and structured to deliver on this growth and I wish them every success."

Halliday exits after six and a half years as chairman, thanking rugby's stakeholders "for their steadfast commitment to achieve lasting change in the business of EPCR".

Meanwhile, Anthony Lepage, who has been EPCR administration and finance director since 2014, has been appointed chief executive on an interim basis after the departure of Vincent Gaillard, who worked alongside Halliday for the past six years.

A recruitment process is underway to appoint both a new CEO and chairman.