Tournament history:
The emergence of an annual international competition in the Southern Hemisphere is directly related to the transition of rugby to a professional basis. In 1995, the IRB (now World Rugby) allowed rugby players to earn money from games, so there should have been more games. For the sake of this, the rugby unions of New Zealand, Australia and South Africa recognized the SANZAR organization, which undertook the organization of two tournaments: the club tournament – Super 12 (now Super Rugby) and the international Tri Nations Cup (now Rugby Championship). The first Tri Nations Cup took place in 1996.
The Rugby Championship in its current form has existed since 2012, when the Argentina national team was added to the three great southern rugby powers.
Tournament format
The Rugby Championship scheme is elementary. Four participants of the tournament play two matches with each of the opponents in August-September of each year. In the year of the World Cup, the tournament is held in a truncated format – teams play in one round.
Source: rugger.info