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NRL South Sydney Rabbitohs Wary Of Billionaire James Packer's Rumored Takeover

Billionaire James Packer's "ever-tightening relationship" with actor Russell Crowe "has the humble little world of rugby league abuzz," according to Andrew Webster of the SYDNEY MORNING HERALD. Is "the son of the late Kerry Packer about to buy into" National Rugby League South Sydney Rabbitohs? So far, "reports about Packer buying up" Rabbitohs co-Owner Peter Holmes a Court's 37.5% share of the club "have been very speculative." But several sources have confirmed that the "interest is certainly real, even if the chances of it happening appear to swing by the day." Whether Packer "buys his stake in Souths will come down to a matter of money and how much he's prepared to cough up." Holmes a Court has "repeatedly said he's going nowhere." Rabbitohs Chair Nick Pappas said, "As far as the club is concerned, it is not aware of any proposal by Mr Packer to acquire any interest in Blackcourt (the company Crowe shares with Holmes a Court) and that remains our position." A "footy club would be a handy plaything for Packer." It is not a "Victoria's Secret model, but they can be fun when they work properly" (SMH, 1/31).

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