Updated
The South Sydney Rabbitohs will hold a press conference later this morning, where they're expected to announced that their Hollywood actor owner Russell Crowe will sell his stake in the club. One former coach and administrator says he's worried the club could be forced to move as a result.
Timothy McDonald
Source: AM | Duration: 2min 56sec
Topics: nrl, redfern-2016, australia, sydney-2000, waterloo-2017
TONY EASTLEY: Some of South Sydney's long suffering Rabbitohs supporters are worried about the future of their club after actor Russell Crowe indicated he's selling his stake.
The club will hold a press conference later this morning. It's expected to announced that Crowe will sell his stake in the club at the end of next season.
A former Sydney Souths coach and administrator says he's worried the club could be forced to move out of Sydney.
Timothy McDonald reports.
TIM MCDONALD: In a tweet, Hollywood actor and Souths part-owner Russell Crowe says there's no reason for the team's supporters to worry.
TWEET FROM RUSSELL CROWE (voiceover): South Sydney FC in a great place. Money in the bank, long term contracts with star players, excellent coach. Don't listen to panic merchants.
TIM MCDONALD: The Souths enjoyed their strongest year since they were readmitted to the NRL in 2002, reaching the preliminary final before losing to Canterbury.
Even so Russell Crowe who has been a part-owner for the last six years now appears set to sell his interest.
George Piggins is a former player who made his debut for Souths in 1967. He went on to be a coach and an administrator of the team. He says a change of ownership could bring turmoil to the club.
GEORGE PIGGINS: It'll be a very difficult time for the club and the members. The only surety where it's going to finish and what's going to happen I suppose, they're going to be very upset I suppose.
TIM MCDONALD: Russell Crowe has said don't listen to the panic merchants and he thinks that the club is in pretty good shape. Do you agree with that?
GEORGE PIGGINS: Oh look, you know, I think the club has got a few debts, well I mean I think they'd have to look at the situation before I'd buy it, I know that. So I just think that football is a very expensive game and I think Russell Crowe's realised this.
TIM MCDONALD: George Piggins was the man who led the charge to return the Rabbitohs to the NRL. He says the club has always had deep roots in Redfern and South Sydney and he's worried that new ownership might mean a move elsewhere.
GEORGE PIGGINS: Well I think the fear of the members is it could be bought from Western Australia or some place like that. And you know, we've got to remember if that happens we virtually loose our team, know what I mean. It means a lot to the community to have their side in Redfern, based in Redfern. The side's been here for 100 years or more and it'd be a shame to see it go.
TIM MCDONALD: And is that a fear that's widespread among supporters?
GEORGE PIGGINS: Well I think it should be. I think that was where me and Russell differed when he purchased it. I couldn't get any guarantees of what will happen to it if he got sick of it.
TIM MCDONALD: So you're on record as having said that it's quite difficult to make money out of a rugby league team. Do you think it might be difficult to find somebody to buy that stake?
GEORGE PIGGINS: Extremely difficult. You've got to be a billionaire, that's a lot of money to have.
TONY EASTLEY: Former South Sydney coach and administrator George Piggins. Timothy McDonald the reporter.
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