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SBD Global/March 5, 2013/Franchises

Russell Crowe Not Ready To Sell Stake In South Sydney Rabbitohs

National Rugby League South Sydney Rabbitohs Owner Russell Crowe has given the club "a timely boost" by deciding he has no immediate plans to sell his stake in the club, according to Honeysett & Read of THE AUSTRALIAN. Rabbitohs Chair Nick Pappas told members at the club's annual general meeting on Sunday that the actor "had no plans to sell his stake in the short to medium term." Pappas also reaffirmed to the members that Crowe's co-Owner, Peter Holmes a Court, "had no plans to sell his stake." Crowe announced at the end of last season that he was looking to offload his 37.5% ownership share in the club to "simplify his life" (THE AUSTRALIAN, 3/5). In Sydney, Brad Walter wrote when Crowe announced in November that he was selling his stake in South Sydney, he "made it clear he was doing so in a bid to save his marriage." In reference to his split with wife Danielle Spencer, Crowe said, ''My family situation has changed. I have to address personally how busy I have made my life outside of my actual job. If I have any chance of keeping my family together, I have to simplify my life where I can.'' But with reports emerging suggesting the offer to "give up ownership of his beloved Rabbitohs may not have had the effect Crowe had hoped, he has now put any thoughts of selling on hold -- indefinitely, it seems" (SYDNEY MORNING HERALD, 3/5).
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