Russell Crowe selling his share

[Big Sam]

That may well be Muzby, but they're well regarded sports by the Perth public. AFL will do its darnedest to ruin a potential NRL club there unlike with the Force and Glory.

Anyway also with regards to relocation, it would need the full approval of the Member Co. to go ahead. Which won't happen. That was part of the 2006 ownership agreement.

 

[muzby]

Anyway also with regards to relocation, it would need the full approval of the Member Co. to go ahead. Which won't happen. That was part of the 2006 ownership agreement.

Who are you trying to convince there.. me or yourself?

 

[The Mad Hatter]

Who are you trying to convince there.. me or yourself?

The fishing is good out in Perth too.

May make the $50 season ticket more attractive.

 

[pierced]

Any word or thoughts on who'd be interested in a club without cheerleaders? Maybe keep with a hollywood theme.
No rumours floating around?

 

[Stagger eel]

Any word or thoughts on who'd be interested in a club without cheerleaders? Maybe keep with a hollywood theme.
No rumours floating around?

Mathew Newton comes to mind..

 

[The Showstopper]

for the 1,000,000+ untapped members and billions of dollars in potential mining company sponsorship in perth?

Mining boom has slowed right down. Your numbers are bullshit. Mining companies are handing out redundancies like a polling officer hands out pamphlets on election day. Also have you forgotten AFL. Noone plays RL in WA. It is another epic fail waiting to happen. Perth is like the GC. They want to be able to say they have it but do absolutely nothing to support it. Western Force and Perth Glory attendances are abysmal.

 

[Johnny Tobin]

Tobin will be interested in just what financial position this "saviour" has left the club in.

His guess is that it will be worse.

Souffs will go back to the bottom of the table where they belong.

And the world is a good place again.

 

[Big Sam]

LOL at all the 'no' voters coming out of the woodwork to have a go at Crowe. We'd be dead if we had gone with Piggins you morons.

 

[Big Sam]

Members to be offered club back - at a price

November 19, 2012

Brad Walter

South Sydney members will be given the first option to buy Russell Crowe's stake in the Rabbitohs as the actor's decision to sell out of the club casts doubts over privatisation in the NRL.
The provision for Crowe and Peter Holmes a Court to offer their 75 per cent shareholding in Souths to the club's members if they ever decided to sell is detailed in the terms of the deal negotiated by the Rabbitohs board in 2006.
Under the arrangement, two independent valuations of the club's worth will be obtained and the members will be offered the chance to buy back the club at the median price.
The members - through a company called Member Group - already hold the other 25 per cent stake and a ''golden share'' preventing any owner from changing the club's name, colours, logo or moving Souths from Sydney.
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However, if the members can't afford the price, the stake will be offered to South Sydney Juniors, whose leagues club is one of the wealthiest in NSW.
How much the shareholding will cost is unclear as Crowe and Holmes a Court have spent more money than they have received from the Rabbitohs in the seven seasons since members narrowly voted to give them control.
It is also unclear whether it is the full 75 per cent stake that Crowe and Holmes a Court purchased for through a company known as BlackCourt Holdings, or merely Crowe's shareholding.
The process for the sale that will be outlined by Souths chairman Nicholas Pappas and chief executive Shane Richardson at a news conference on Monday vindicates the lengths the Rabbitohs' board went to install safeguards in the deal.
Newcastle officials copied many of the measures for their deal with coal baron Nathan Tinkler as it is widely accepted that no one makes money out of owning a rugby league club.
Crowe and Holmes a Court paid $3 million for their 75 per cent stake in 2006, while Newcastle's deal with Tinker provided for him to guarantee $10 million in sponsorship for 10 years.
What Crowe has done is help transform a great club that was struggling for success into one of the game's powerhouses again. And not just on the field, where the Rabbitohs made the finals for the first time in 18 years in 2007 and this season got to within one win of their first grand final since 1971.
Off the field, Souths are acknowledged as the most successful Sydney club with 22,000 members, $6 million annual sponsorship and average crowds of 18,904 at home matches.
But the Rabbitohs still carry a debt to Crowe and Holmes a Court in their financial accounts each year, and even if they never have to repay that, it highlights why the future is likely to be a return to a members-owned club.
With NRL clubs receiving an annual grant of $7 million next season and their share of the new $1 billion broadcast deal in future years set to increase, the days of clubs relying on leagues club funding and private benefactors are over.
With the annual funding grant now higher than the salary cap, NRL officials hope football operations will become self sufficient and Souths may be the first club to test that theory.
It is a situation the Rabbitohs have been in before, as they have not had a profitable leagues club for decades and needed to find other ways to balance the books.
That was how Crowe became an owner as he was sick of being asked to help the club meet its debts without any official say.
While the early years were difficult financially and the Rabbitohs continued to live beyond their means, they have traded profitably for the past four seasons. In the process, the club's turnover has doubled from about $8.5 million before the privatisation deal to $17 million this year. It is a good time for Crowe sell his stake and put the Rabbitohs in a strong position to control their destiny again.


Read more: http://www.smh.com.au/rugby-league/...-at-a-price-20121118-29kam.html#ixzz2Cc64Elhy

Very factual and objective article. Reassuring to see after all the fearmongering from Piggins and his cohort.

 

[Newcastlerabbit]

BY: STUART HONEYSETT From: The Australian November 19, 2012 12:00AM


IT wasn't too long ago that George Piggins wanted Russell Crowe to have nothing to do with South Sydney. Now the Rabbitohs patriarch has urged the actor to abandon his plans to sell his stake in the football club for the sake of Souths' future.

"I'd like to see Crowe stay with it," Piggins said yesterday. "I want him to stay because I'm worried what might happen to Souths.

"They say that you'll always find someone else but, gee whiz, to find someone that's going to leave it in Sydney will be difficult. It's nothing personal. For me, we need someone there with that sort of money to run that football club.

"He and other people thought he came and saved the day. I don't think that was the case. He bought it and he more or less took the responsibility of running the football club in our community."

The Rabbitohs are expected to confirm at a press conference today that Crowe is looking to sell his stake in the club by the end of next year. He has cited trying to reconcile with his estranged wife, Danielle Spencer, as the reason behind his decision.


Crowe and millionaire businessman Peter Holmes a Court bought a 75 per cent stake in the club in 2006, deposing Piggins and the old guard in the process. The Rabbitohs have steadily improved under their guidance, culminating with a preliminary final appearance this year.

The club now boasts the largest membership of any NSW-based club and has not had to ask Crowe and Holmes a Court for financial assistance since 2008.

Under the terms of their ownership, Crowe and Holmes a Court committed to the club for at least six years and promised they would not leave the club in worse shape than they found it. The football club has the first option to buy the club and if they decline, it can go to whoever they like.

It is not clear at this stage whether Holmes a Court will also sell his stake but there is speculation he could follow Crowe's lead as he is now based in Europe.

It is understood Crowe is owed about $1.2 million and Holmes a Court $4.5m, but the pair negotiated a generous repayment scheme with the club which sees no interest until 2014 and no maturity date until 2024.

Holmes a Court yesterday paid tribute to Crowe on his Facebook page.

"There are so many great things that he has done over the last six seasons that will never be seen. One thing that will always stay with the club is his pursuit of excellence in everything we do, a drive that has to be seen to be believed," he wrote.

"This passion and focus is now in the club's DNA and it won't ever leave." When the pair assumed power in 2006 the club had finished with three wooden spoons since being readmitted to the NRL in 2002. Crowe used his star power to lure players to the club including Roy Asotasi, Craig Wing, Greg Inglis and Sam Burgess.

He also used his money to transform the working-class club into the glamour boys of the NRL.

Interim NRL chief executive Shane Mattiske said Crowe had been a positive influence.

"Russell has helped build the club into a force both on and off the field," Mattiske said yesterday. "It's got one of the strongest memberships, a great corporate program and an outstanding roster."

"Any fan of South Sydney after their performance in 2012 will have a very positive view of their future.

"Russell has demonstrated he is a true fan of South Sydney and I'd expect him to continue to be one of their greatest fans."

http://www.theaustralian.com.au/spo...sake-of-the-club/story-fnca0von-1226519120157

 

[Big Sam]

I have lost all respect for Piggins. First the constant deathriding of everything the club does, and now the hyperbolic fearmongering when he very well knows under the terms of the 2006 agreement that members have the final say on relocation.

Just a bitter old man whose opinion is becoming increasingly irrelevant.

 

[Newcastlerabbit]

Rabbitohs scrambling with Crowe poised to exit
Published: 11:48PM Sunday November 18, 2012 Source: AAP
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Russell Crowe attends an NRL game between the Rabbitohs and Dragons - Source: Getty Images
South Sydney stalwart George Piggins says his worst fears about private ownership of the NRL club could be realised, with Russell Crowe reportedly keen to sell his share.

The Nine Network reported today that Crowe wanted out of the club at the end of the 2013 season, after a difficult year both professionally and personally.

Piggins was a fierce opponent of Crowe's and businessman Peter Holmes a Court's successful takeover bid in 2006, and has been an outspoken critic ever since. The former club patriarch said he was not surprised at the uncertain predicament Souths now found themselves in.

"Before the vote, I went and visited Russell, and he said if he won the vote, it was his club to do whatever he wanted to do with and that has proven to be the case," Piggins said.

"I think the fans must be very concerned about where the club goes now and those who voted for the takeover must be very concerned too.

"This is exactly what worried me most about the whole thing - the fans will be feeling cheated."

Amid much fanfare, Crowe and Holmes a Court gained ownership of the struggling club after 75% of Leagues Club members voted in favour of their A$3 million (NZ$3.9 million) takeover bid.

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South Sydney have called a press conference for tomorrow morning, when club officials are expected to address the issue but where exactly Souths go from here if Crowe wants out is the big question.

Crowe and Holmes a Court have publicly fallen out since buying into the club, and Holmes a Court, who once enjoyed a very hands-on role, is far removed from the day-to-day goings on at Redfern.

It is unknown if Holmes a Court would continue as an owner or follow Crowe out, with the club forced to begin a search for a new owner.

Given the struggles of the Rabbitohs' leagues club and the unwillingness of the cash-rich South Juniors to give money to the senior football club, the continuity of a private ownership model seems the most likely possibility.

But just who would be interested in the club, which has drained millions from Crowe and Holmes a Court, is a big question, despite the club's resurgent on-field success.

Piggins resisted the opportunity to claim "I told you so", instead wondering what was the next step for the famous club.

"There's no fun in being right," he said. "You have to ask where do Souths go from here?

"Where will the money come from, considering the struggles leagues clubs are having these days? Will the club still be based in Sydney or might they have to move it somewhere like Perth?

"This brings so much uncertainty and it was always what troubled me about it.

"But I can't see anyway they can go back to the old model. They will have to find another billionaire who wants to take over and I'm not sure there are too many of them out there."

A member of Souths' last premiership-winning side in 1971, Piggins hasn't attended a Rabbitohs game since the takeover.

He wouldn't be drawn on whether any possible exit of Crowe and Holmes a Court would open the door for his return to Redfern, insisting that, at 70-years-old, he would leave the running of the club to others and would continue to watch matches on television.

http://tvnz.co.nz/rugby-league-news...96785063694851":"og.likes"}&action_ref_map=[]

 

[Ozzy]

IMO if the Juniors run the management of the Seniors club, they may well be better off. The main Juniors site is very well run.

 

[MARSHALL ZHUKOV]

lots of billionaires in Russia who could buy Souths with the spare change they keep in their car's ash tray.

 

[Newcastlerabbit]

lots of billionaires in Russia who could buy Souths with the spare change they keep in their car's ash tray.

Same in India you peanut!

 

[Newcastlerabbit]

By Ben Glover FOX SPORTS November 19, 2012 11:10AM


Comfort for the fans ... Crowe says the Rabbitohs are in good shape. Source: Rohan Kelly / News Limited
Russell Crowe has sought to ease concerns of South Sydney fans as he moves to sell his share of the NRL club.

The actor took to Twitter on Monday, declaring: "South Sydney FC in a great place. Money in the bank, long term contracts with star players, excellent coach. Don't listen to panic merchants."

And at a press conference held at Redfern Oval by the Rabbitohs on Monday morning, the message was very much that things don't need to change, with or without Crowe.

The media were addressed by Souths chairman Nick Pappas and CEO Shane Richardson who were eager to ram home a point that business will continue as usual.

"If and when (Crowe sells his share in the club) he'll still be heavily involved," Richardson said.

"Business as usual goes on. It's very, very important to give that message to everybody. Nothing changes in any way, shape or form."

Pappas claimed defiantly that the club "is not for sale" and that it will continue to be sustainable, with or without Crowe's investment.


Related Content
Perth?: Piggins fears Bunnies relocation + 18 Crowe: 'I'll be a Rabbitoh until I die' + 8 Sad: Piggins's fears realised in Crowe exit + 30 Reports: Crowe to sell out of Rabbitohs + 36

He said there was a forecast for a seven figure surplus in 2013, an "unheard of result for football clubs in Sydney", indicating that the future was still bright.

"This was never a question of pure private ownership in the Rabbitohs. Always a partnership between two private investors and the members of this football club," Pappas said.

"It's a good opportunity to assure our members their rights are paramount. Any sale puts them first."

Crowe has cited family reasons following his marriage split for wanting out of the club at the end of the 2013 season.

However, his move to sell raised fresh concern from former club patriatch George Piggins, who was a fierce opponent of Crowe's and businessman Peter Holmes a Court's successful takeover bid in 2006.

"I think the fans must be very concerned about where the club goes now, and those who voted for the takeover must be very concerned too," Piggins said.

"This is exactly what worried me most about the whole thing ... the fans will be feeling cheated."

"You have to ask where do Souths go from here?

"Where will the money come from considering the struggles leagues clubs are having these days? Will the club still be based in Sydney or might they have to move it somewhere like Perth?

"This brings so much uncertainty, and it was always what troubled me about it.

"But I can't see anyway they can go back to the old model. They will have to find another billionaire who wants to take over and I'm not sure there are too many of them out there."



Read more: http://www.foxsports.com.au/league/...re/story-fn2mcuj6-1226519422700#ixzz2CcpaMO9N

 

[Newcastlerabbit]

“Business as usual” for South Sydney Rabbitohs
Words: Rabbitohs Media Release
Monday 19 November 2012 9:35 AM

It is “business as usual” for the South Sydney Rabbitohs as the Club confirmed today that co-owner Russell Crowe has indicated that he will look to sell his share in the Club at the end of the 2013 season.
Mr Crowe is a half owner in company Blackcourt League Investments Pty Limited, the company which owns a 75% share of the South Sydney District Rugby League Football Club. 25% of the Club is owned by the South Sydney Members Rugby League Football Club, or ‘Member Co.’, which also controls the key elements of the Club such as its name, colours, logo and home ground.
“This is a day to acknowledge everything Russell Crowe has done for the Club since he took up an official involvement in June 2006, and to show that the Club is in a very healthy position to continue its climb to the top of the NRL tree,” Rabbitohs Chairman Nicholas Pappas said.
“Russell and Peter Holmes à Court have played an important role in re-establishing the foundations of this Club both on and off the field. While both our investors have been much less hands-on in the running of the Club since 2008, they have nonetheless provided strategic direction and, through their nominated directors, have kept a close eye on the Club’s strengthening performance. Russell has always said he wanted to help get the Club back to being one of the best run Clubs in the NRL and that goal has been achieved.
“With the Club budgeting for its first ever seven-figure surplus in 2013, all without any external funding, there really is no better time from the Club’s point of view for Russell to make his decision to step away from an official capacity. We’re confident that Russell will remain a strong supporter of the Club from the end of next year and beyond, just as he was before 2006. Of course, there is a process that our investors need to follow should they decide to dispose of their interest, and we look forward to that process unfolding at the end of the 2013 season.”
Rabbitohs CEO Shane Richardson echoed the comments of Mr Pappas.
“We have all worked very hard to put the Club in the position it’s currently in, both on and off the field,” Mr Richardson said.
“We have a strong roster of players, one of the leading young coaches in the game at the helm of our football program, the strongest Membership base in NSW in the NRL, a broad and valuable network of corporate partners, and a management team well placed to take us to the next level as a Club.
“We finished one game short of a Grand Final appearance in 2012 and we are committed to doing everything we can to better that in 2013. We are aiming to increase our Membership from 22,000-plus last season to 25,000 Members for the new season, and we have top-shelf companies on all of our major corporate partnership properties for 2013.
“We are in a very strong position, we have a loyal Membership base and the best corporate partners behind us.
“It is business as usual.”

http://www.rabbitohs.com.au/news-display/Business-as-usual-for-South-Sydney-Rabbitohs/65994

 

[Fire]

They're not going to come out and say "we're f**ked".

Have fun at your march to Town Hall, don't expect any other teams to join you this time, androtrops.

 

[Big Sam]

They're not going to come out and say "we're f**ked".

Have fun at your march to Town Hall, don't expect any other teams to join you this time, androtrops.

Can someone ban this merkin from our forum?

 

[Newcastlerabbit]

They're not going to come out and say "we're f**ked".

Have fun at your march to Town Hall, don't expect any other teams to join you this time, androtrops.

coming from a club that sold out,:lol::lol::lol: good luck in 2013 you fuggin loser :lol::lol: