Russell Crowe is trying to sell his stake in South Sydney after playing a leading role in taking the club from cellar dwellers to premiers since paying $3million to take over the team in 2006, it has been reported.
The Hollywood star owns 25 per cent of the ‘Pride of the League’ and he is now looking for investors to purchase his stake, which is now valued at up to $20million, according to News Corp.
Souths were struggling badly both on and off the field before the Gladiator star and businessman Peter Holmes à Court won control in dramatic fashion, with Crowe delivering a stirring speech to members to convince them to let the club go private.
‘My last words to members were, “Let’s vote yes, let’s get into bed together, I hope you respect me in the morning”,’ Crowe said at the time.
Souths turned the corner very soon afterwards, making their first finals series for 18 seasons when they broke into the top eight in 2007.
Holmes à Court resigned as executive chairman and CEO in May 2008, and Crowe currently holds an equal share in the club with businessmen Mike Cannon-Brookes, James Packer, and the team’s members.
Russell Crowe (pictured at a Souths game in 2021 with Chris Hemsworth, right) is reportedly keen to sell his stake in the NRL team
The Hollywood star (pictured in 2008) has been the figurehead and part-owner for the Rabbitohs since 2006
An American investor is interested in buying the stake and is having South Sydney’s operations examined, according to the report, which also states that Packer and Cannon-Brookes have the option of purchasing Crowe’s shares.
Crowe brought Hollywood glitz and glamour to the club almost straight away, famously having the players kitted out in clothing by Armani, and getting fellow megastars like Tom Cruise and Chris Hemsworth along to games.
After winning the minor premiership in 1989, the club fell on extremely hard times financially and competitively, leading to their exclusion from the NRL in 1999.
The Bunnies won reinstatement in 2002 after a lengthy court battle, but their struggles continued until the change of ownership.
From the 2007 season, the team got on a roll that culminated in them winning the 2014 grand final to record a record 21st premiership victory.
Another grand final followed in 2021 as the Rabbitohs lost to Penrith, and the side remained competitive until failing to make the final eight in 2023, then sliding to a disappointing 16th on the ladder last year.
It was a horror season that saw coach Jason Demetriou sacked, and the team’s best player, Latrell Mitchell, get punished by club bosses after his white powder scandal followed a run of injury and on-field controversies to ruin the fullback’s year.
But despite that, Souths remain in a good position financially as the club recorded profits for the last seven years, including making $14million in 2024.
Crowe’s takeover was far from a sure thing as he and Holmes à Court’s bid only got up by 32 votes, with 3942 members casting ballots.
The Gladiator star (pictured with Souths stars Adam MacDougall, left, and Bryan Fletcher, right in 2005) was on the verge of selling up in 2012 after his split with then-wife Danielle Spencer
Crowe’s time as part owner of the club saw the Bunnies go from struggling badly on and off the field to turning profits and winning the 2014 grand final (pictured)
‘This means we have a future, we have a future and we have cash in the bank and we can begin to focus on the very thing that all of the factionalism and the in-fighting stops us focusing on which is playing the game of football and playing it competitively,’ Crowe told the club’s fans after the win.
The bombshell report is not the first time the star has been connected to offloading his shares in the team.
In 2012, Souths announced that he was going to sell his then 37.5 per cent stake before Crowe changed his mind.
‘There’s a personal equation here. He has a young family. Obviously his commitments with work have been excessive over the last 18 months,’ then Rabbitohs chairman Nicholas Pappas said, referring to Crowe’s separation from his then-wife Danielle Spencer.
‘He got involved to set [the team] up going forward. I believe that he feels never before has it been in a better position for him to be able to make that decision.
‘It’s a personal decision for him … and I think that we’ve got to respect that.’
