Shane Williams will retire from professional rugby at the end of the current campaign to take up an ambassadorial role with Ospreys.
Williams called time on his illustrious international career in December but at the time the winger confirmed his intention to continue playing for the Ospreys until the end of the 2012-13 season.
Speculation had mounted that the 34-year-old was on the verge of announcing his retirement from playing and Ospreys have revealed that they have reached an agreement with the former IRB Player of the Year that will see him hang up his boots in May 2012.
While he will no longer be playing for the Ospreys, Williams has agreed to take up an ambassadorial role with the region which will run for an initial two years until summer 2014.
"My future with the Ospreys was never in doubt. Things like this take time to sort out but I’m just delighted that I’m going to continue being a part of the region I love, the Ospreys," Williams said.
The former Wales international was part of the first ever Ospreys squad in 2003 and he has gone on to make 136 appearances for the region, scoring a record of 54 tries.
"Shane has been a tremendous servant to the region throughout his long career and I’ve no doubt whatsoever that he can be an even bigger success off the field than he was on it," Ospreys managing director Mike Cuddy said.
"I’m looking forward to working closely with Shane the business man for the next 15 years, just as I have with Shane the rugby player for the last 15."