Russell Crowe slammed claims he’s selling his stake in Souths – but this bombshell from 12 years ago is fuelling speculation he wants out
- Russell Crowe has dismissed claims he is looking to sell his Rabbitohs’ shares
- Crowe currently owns a 25 percent stake in the football club worth $20 million
- The Hollywood actor had previously made arrangements to leave the club
Russell Crowe on Monday strongly denied that his $20 million stake in the South Sydney Rabbitohs was up for sale.
The Hollywood superstar, who has had a stake in the club since buying a stake with businessman Peter Holmes à Court for $3 million in 2006, branded the reports as ‘bulls***’.
Crowe, 60, told reporters that rumors circulating online that he wanted to shed his 25 percent stake were untrue.
He even went so far as to tell reporters to go “enjoy the summer sun” instead of speculating about the story.
Crowe went to X and added: “Re: SSFC [South Sydney Football Club]. What would January be in Australia without desperate, old-fashioned conspiracy theories in the media?
‘Enjoy the summer sun when it comes and ignore the trolls. WB [coach Wayne Bennett] is back on board. A fresh energy about the place. An arrowhead to our intentions.’
Russell Crowe has branded rumors he is looking to sell his stake in the South Sydney Rabbitohs as ‘bulls***’
Crowe (left) acquired the club in 2006 together with Peter Holmes à Court (right)
The Rabbitohs declined to comment on the matter.
Since his investment in the club 19 years ago, Crowe has become an important part of the Stadium Australia furniture and has always worn his heart on his sleeve.
But it appears a bombshell report from almost a dozen years ago could have been at the heart of the speculation surrounding his future at the Rabbitohs.
In 2012, ABC News claimed that the Rabbitohs had confirmed that Crowe had indicated he wanted to sell his share of the team.
Rabbitohs chairman Nick Pappas and then chief Shane Richardson spoke to allay fans’ concerns about the club’s stability following Crowe’s announcement.
They added that Crowe’s decision was a “personal” one and that there was an agreement that the actor would find a buyer to replace him.
He later spoke out about the decision to sell his shares in the club, which then stood at 37.5 percent, claiming he wanted to spend more time with his family.
“It’s quite simple, I need to make more time for my family,” he said Fox League. “I have enjoyed the responsibility of making South Sydney a competitive force again.”
The Hollywood actor (right), posing for a photo with Australian Prime Minister Anthony Albanese (left), had already tried to sell his shares in 2012
Although he had claimed that the decision was made because he wanted to spend more time with his family, he ultimately reversed that decision
But the Gladiator star is said to have reversed his plans, instead changing his mind and opting to stay on as a co-shareholder.
He now owns a quarter of the football club, along with former Crown Resorts chairman James Packer and Mike Cannon-Brookes, a technology entrepreneur. The final share is distributed among the members of Souths.
Under their leadership, the South ended a 43-year wait for a premiership in 2014 and are now financially stable.
This comes after the club fell on hard times in the 1990s and was eventually expelled from the NRL in 1999.
Crowe and Packer had also forgiven $7 million in debt in 2016, according to MONKEYgiving the club more financial security.
Although the Bunnies are yet to repeat their 2014 achievements and end a now eleven-year wait for a premiership, the appointment of new boss Wayne Bennett will certainly help the Rabbitohs turn around their fortunes after finishing 16th in the NRL last season. .