Moffett joined the WRU at the end of 2002

Moffett joined the WRU at the end of 2002 with a mandate for reform, and has presided over turbulent times.

The highlights of his tenure include forcing through the move to regional rugby, reorganising the managerial structure and stringent cost cutting.

Most recently, he oversaw Mike Ruddock's appointment as Wales coach.

"This was a very easy decision for me to make, we are a short way on a long journey and I want to continue," said Moffett.

The stadium is not for sale. It's as simple as that WRU group chief executive David Moffett

"Ever since I started my job in Wales, people have been asking me when I will be leaving.

"I hope that by committing myself to Welsh rugby until 2008 I will be able to convince everyone that I'm in this for the long haul and that I'm relishing the challenge."

Moffett revealed that securing a stable financial footing for the WRU was his priority, but he told BBC Wales Sport that selling the Millennium Stadium was not an option in order to clear the crippling �60m debt.

"The stadium is not for sale. It's as simple as that," said Moffett.

He did, however, concede that re-naming the stadium was a possibility if a private investor made a suitable offer.

"We are in talks with Barclays Bank, BT and the Millennium Commission about a suitable package to give us financial stability," he added.

"We are two or three months away from being able to make an announcement. The naming rights (for the stadium) are currently held by the Millennium Commission and we'd have to make a compelling case to them to be able to change it."