 On April 10, 2014 it was announced that the nine shareholders with an interest in continuing major European club competition had come to an agreement for new competitions.Under the new agreement, ERC was wound up, and a new body, European Professional Club Rugby (EPCR), would be created to organise three new competitions, European Rugby Champions Cup, the European Rugby Challenge Cup, and the third tier Qualifying Competition, beginning with the 2014-15 season.Shortly after the establishment of EPCR, it was announced that the running of the inaugural 2014–15 tournament was to be handled in conjunction with ERC, the organisation it had been meant to replace, to facilitate a smooth transition.