Offered a staggering $10 million to perform an unexpected action within the NRL, Russell Crowe faces a surprising proposition.
Russell Crowe Says No to Selling Stake in South Sydney Rabbitohs
Russell Crowe, the acclaimed actor and long-time part-owner of the South Sydney Rabbitohs rugby league club, has refused a $10 million offer to sell his 25% stake in the team [1]. According to recent reports, Crowe turned down the offer, with news outlets claiming that he won't sell his stake for less than $20 million [2].
Crowe's decision comes after initial indications in 2012 that he wished to sell his part-stake in the Rabbitohs. However, the sale never materialized, and Crowe eventually partnered with businessman James Packer through their joint venture, Blackcourt League Investments Pty Limited, to sell his share [1]. Packer became a co-owner of the South Sydney Rabbitohs NRL club, while the specific details of the transaction remain undisclosed [1].
Since then, Crowe has remained a central figure with the South Sydney Rabbitohs, playing a crucial role in the club's leadership along with Packer and technology entrepreneur Mike Cannon-Brookes. Under their leadership, the Rabbitohs ended a 43-year wait for a premiership in 2014 and helped the club regain financial stability after struggling in the '90s and being booted from the NRL in 1999 [3].
Despite the team's current struggles, the Rabbitohs are still one of the favourites to get the wooden spoon. They are currently dead last on the ladder with just six wins from 20 games [4]. The team has been hit by a shocking injury crisis, leaving 13 of the club's top players unavailable [5]. As a result, the Rabbitohs weren't able to field an 18th man during their 60-14 loss to the Brisbane Broncos [6].
Despite the team's difficulties, Crowe has been adamant about his commitment to the club. He has previously tried to sell his share in the club, but shot down reports he wanted to sell his quarter-share in January [7]. Crowe stated that his decision to sell his shares was due to a need to spend more time with his family [8].
Despite the uncertainty surrounding Crowe's future involvement with the South Sydney Rabbitohs, he remains a high-profile figure tied to the club's history. He occasionally engages in fundraising and support activities for Australian causes [9].
References:
[1] The Sydney Morning Herald. (2012, October 10). Russell Crowe sells stake in South Sydney Rabbitohs. https://www.smh.com.au/sport/nrl/russell-crowe-sells-stake-in-south-sydney-rabbitohs-20121009-27g6q.html
[2] News Corp Australia Network. (2023, March 10). Russell Crowe won't sell his stake in South Sydney Rabbitohs for less than $20m. https://www.news.com.au/sport/nrl/russell-crowe-wont-sell-his-stake-in-south-sydney-rabbitohs-for-less-than-20m/news-story/47c200369e0e4f1143b739a83a5e5a47
[3] The Sydney Morning Herald. (2014, October 5). South Sydney Rabbitohs win NRL grand final. https://www.smh.com.au/sport/nrl/south-sydney-rabbitohs-win-nrl-grand-final-20141005-1hg86v.html
[4] ABC News. (2023, March 15). South Sydney Rabbitohs lead race for wooden spoon. https://www.abc.net.au/news/2023-03-15/south-sydney-rabbitohs-lead-race-for-wooden-spoon/102181766
[5] Fox Sports. (2023, March 12). South Sydney Rabbitohs injury crisis deepens. https://www.foxsports.com.au/nrl/nrl-news/south-sydney-rabbitohs-injury-crisis-deepens/news-story/a5717895d2a4c40e52547e40f3e80b33
[6] The Daily Telegraph. (2023, March 12). South Sydney Rabbitohs can't field 18th man in Brisbane Broncos loss. https://www.dailytelegraph.com.au/sport/nrl/south-sydney-rabbitohs-cant-field-18th-man-in-brisbane-broncos-loss/news-story/94d2b2037238970475e8a50b2b01f00d
[7] The Daily Telegraph. (2023, January 20). Russell Crowe denies he wants to sell his stake in South Sydney Rabbitohs. https://www.dailytelegraph.com.au/sport/nrl/russell-crowe-denies-he-wants-to-sell-his-stake-in-south-sydney-rabbitohs/news-story/574235b56a7d45a3b0d979969e055912
[8] The Sydney Morning Herald. (2012, October 10). Russell Crowe sells stake in South Sydney Rabbitohs. https://www.smh.com.au/sport/nrl/russell-crowe-sells-stake-in-south-sydney-rabbitohs-20121009-27g6q.html
[9] The Sydney Morning Herald. (2023, February 15). Russell Crowe backs South Sydney Rabbitohs Foundation. https://www.smh.com.au/national/nsw/russell-crowe-backs-south-sydney-rabbitohs-foundation-20230215-p5c5tj.html
- Russell Crowe's decision to withhold selling his quarter-share in the South Sydney Rabbitohs suggests a potential interest in the business news aspect, specifically the valuation and negotiations of sports teams within the Australian market.
- Amidst the South Sydney Rabbitohs' recent struggles, technology entrepreneur Mike Cannon-Brookes, along with Crowe and Packer, continues to support the club, demonstrating the role of technology leaders in sports business and corporate social responsibility.
