Can clubs afford to go alone and what effect will that have on the national team, will players from those teams not be chosen or will there be another England team? Abit like the Super League war in Australia.
The up and down is the RFUs EPS agreement with the PRL (the body which the Clubs all join to be in the top flight) expires next year. The clubs own the contracts of the players.
If the clubs broke away, they hold all the cards. The RFU would be powerless.
This would result in the Union setting up centrally contracted regional franchises while the clubs play under a different banner (think similar to the RFL split a million years ago, only the RFU would have to start from scratch).
There would then be 2 competitions running in tandem. Some players would go for the franchises and earn international caps. Some would play for the clubs and actually have a crowd watch them more then 8 times a year - But of course, the RFU would have no rights to them.
Effectively it's plausable - Of the current Premiership clubs, Northampton, Leicester, Gloucester, Quins and Exeter are self sustaining (or should be). Some others (Bath, Sarries Wuss & Sale) have wealthy sugar daddies while Irish, Wasps & Newcastle may suffer. However in an uncapped league they wouldn't have problems attracting investors.
Centrally Contracted franchises (based in places like Bedford, Chester and Tumbridge Wells) would not be competitive and totally geared to the national setup - But the players choosing a decent salary to play for supported teams).
The up and down of it all, the RFU is living on borrowed time.