The three team will be put up for franchise as part of the "New Vision" presented at last night's AGM at Murrayfield.
According to today's Scotsman, teams would be offered to anyone who could fulfil business-type franchise requirements, including, in this case, a commitment to developing 2nd XVs, improving facilities and establishing better links with clubs. As with any franchise, the franchising body (SRU) would retain overall direction of the franchises, but would also continue to invest in them.
The teams could be based anywhere, according to Phil Anderton, the chief executive, which opens up the possibility of the Borders, Edinburgh and Glasgow losing their existing professional team status if they failed to match other bids - which could come from entrepreneurs, ambitious clubs with significant backing or a merger of clubs.
You can read David Ferguson's article here