By Michael Chammas and Dan Walsh
Hollywood star Russell Crowe has described reports he has explored selling his share of South Sydney as “conspiracy theories” in a message to Rabbitohs supporters.
According to media reports, Crowe has been seeking interest from potential buyers in the United States and Australia to offload his 25 per cent stake in the Rabbitohs.
Russell Crowe with Sam Burgess after South Sydney won the 2014 grand final.
South Sydney, who are also part-owned by billionaires Mike Cannon-Brookes and James Packer, have been aware of the rumours for a number of months.
Crowe bought the club alongside Peter Holmes à Court for $3 million almost two decades ago, and could sell his share for between five and seven times that amount.
Crowe took to X to address reports on Monday morning (AEDT). He did not expressly deny the reports as he pointed instead to Wayne Bennett’s return as head coach in 2025.
South Sydney declined to comment. Crowe has also been approached for further comment by this masthead.
The Academy Award winner previously flagged his intention to sell a then-37.5 per cent share of the flagship club in 2012 before a change of heart kept him at the helm for the Rabbitohs’ drought-breaking premiership two years later.
Crowe’s buy into South Sydney in 2006 with Holmes à Court, who sold his share to Packer eight years later, saw Crowe emerge as one of the NRL’s most influential figures, given his Hollywood clout and the club’s off-field turnaround.
He and Packer waived a $7 million debt held by South Sydney in 2016 and the Rabbitohs have posted profits from the past seven consecutive years.
Benchmarking by the NRL for the 2023 financial year – which excluded the publicly listed Broncos – pegged South Sydney’s $23.5 million in revenue as the equal largest in the game alongside the Dolphins.
A 56 per cent profit margin made for a total profit of $14 million.
South Sydney co-owner Russell Crowe at a Rabbitohs game.Credit: Getty
As reported by the masthead throughout Jason Demetriou’s demise as head coach last year, Crowe backed Demetriou and told the under-fire coach “I’ve got your back”, hours before South Sydney’s board voted unanimously to terminate his contract.
Despite his support of Demetriou, when the board decided to remove him as coach Crowe was an ardent supporter of Bennett and championed his return to the club on a three-year deal.
While Bennett takes charge of a powerhouse club that finished 16th on the ladder last season, the coaching saga highlighted a shift in Crowe’s influence in a complex ownership structure.
Crowe’s early years as Rabbitohs owner were characterised by panache and theatre as he commissioned The Book of Feuds to detail South Sydney’s rivalries across the game.
Glitz and glamour also arrived at the foundation club in the form of Armani suits and a slew of Hollywood A-listers from Tom Cruise to Pamela Anderson attending matches, while Crowe has long championed the club in the US.
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