Outbid by Russell Crowe 20 years ago, a hotel mogul is again interested in the Rabbitohs
Crowe and businessman Peter Holmes a Court bought 75 per cent of the Rabbitohs for $3 million back in 2006, but that duo wasn't the only interested party. At that time, Dr Jerry Schwartz, who made his fortune as a cosmetic surgeon and hotelier, made a bid for the 'Pride of the League'.
Schwartz, who The Australian estimates to be worth $667 million, fell short of the successful bid put forward by Crowe and Holmes a Court in 2006. However, with rumours again swirling that the Oscar winner is considering selling his stake, Schwartz may again be interested in making a play.
'I tendered against Russell Crowe and Holmes a Court for the club, but I was outbid,' Schwartz said.
'I like a full plate, but I couldn't afford it at the time.
'As for the future, I have a simple philosophy in business: if the price is right, I might be interested. It could align nicely with my Sydney Brewery brand.'
Crowe bought into Souths when the club was at one of its lowest ebbs. The Rabbitohs earned the wooden spoon in 2006, but returned to finals football the following year. The club went on to win a breakthrough premiership, the first in 43 years, in 2014, the year that Holmes a Court sold his stake.
Mike Cannon-Brookes bought a one-third share of Blackcourt, which owns 75 per cent of the Rabbitohs, in 2021. That leaves each of the current owners – Crowe, Packer, Cannon-Brookes and the members – with 25 per cent stakes. The members own a preferential share that controls the team's name, logo, colours, jersey and home ground.
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