Holmes a Court launches bid to unite South Sydney

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greeneyed
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Holmes a Court launches bid to unite South Sydney

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www.smh.com.au

Holmes a Court launches bid to unite South Sydney

Rabbitohs saviour Peter Holmes a Court has come up with a bold proposal to do what no one has done before: finally unite the wealthy Souths Juniors and senior football clubs.

The multimillionaire businessman, who with actor Russell Crowe plans to become a major financial backer of the football club, sent a proposal to newly elected Souths Juniors chairman Keith McCraw on Friday.

It details a plan to bring the Juniors, financially crippled Souths Leagues Club and the senior football club together under the one administration.

And in a remarkable show of commitment, Holmes a Court has offered to underwrite the $7.5 million in debt the leagues club owes.

Holmes a Court could not be reached for comment yesterday.

But Souths chairman Nick Pappas said that while the proposal was in its infancy and had to go before three separate boards, it marked a watershed moment for the Rabbitohs.

"This is a chance to bring the South Sydney family together for the first time in history," he said.

"The South Sydney family is a unique one and in the past it has been difficult to have it united and going in the one direction.

"It has to go before three boards and the proposal is in its early stages.

"But you only have to look at it logically to realise this is a significant step in the right direction for the club."

The relationship between the rich Juniors and the often poor senior clubs has often been frosty.

It has long been the desire of Souths patriarch and leagues club chairman George Piggins to unite the three clubs, but deep factions and in-fighting prevented it from becoming a reality.

Early this year, he asked the Juniors to buy the financially crippled leagues club because of its enormous debts.

When Holmes a Court and Crowe first revealed their desire to buy the Rabbitohs, it was suggested they could join forces with the Juniors club in a hybrid investment. Now it appears that Holmes a Court has taken a holistic approach to making the foundation club a viable and successful team again.

"This has nothing to do with privatisation any more," Pappas said.

"Peter's plans have changed into a new proposal and getting the district heading in the one direction."

McCraw was quick to point out that the proposal had landed on his desk only on Friday night, but he said the move was positive. "I'm only newly elected but our affiliation with the Rabbitohs has never been questioned," he said.

"It's all preliminary - my board is yet to see the proposal - but it is a step in the right direction.

"Most of it will come down to the football club. It will be up to their board and their members to see if they want to accept it."

Pappas said the proposal also stood to consolidate South Sydney's position in Sydney and would scotch the perennial suggestion of the club being relocated.

"This will surely get rid of the spectre about us playing somewhere [other] than Sydney," he said.

It was rumoured that Holmes a Court had shelved his plans to become a majority stakeholder in the Rabbitohs.

But behind the scenes it is understood that he has been vigorous in investigating every aspect of the club's operations.

Source: The Sun-Herald
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