Hollywood star Russell Crowe will relinquish his controlling stake in South Sydney, the club has announced.
Lifelong Rabbitohs fan Crowe, who took over with business colleague Peter Holmes à Court after a controversial members vote in 2006, will sell his shares at the end of next season.
Bosses at Redfern have moved quickly to praise Crowe’s influence and preparations for next year will remain. “business as usual”.
“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.”
Rabbitohs chief Shane Richardson emphasised the strength of the club’s current position.
“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 are in a very strong position, we have a loyal Membership base and the best corporate partners behind us.
“It is business as usual.”