James Packer Could Be Buying A Stake In The Rabbitohs

There is talk that casino mogul James Packer is in talks to buy a share of the NRL’s South Sydney team, the Rabbitohs.

After Crown casino signed as the Rabbitohs’ major sponsor for the 2014 season, Packer now is said to be in a mooted deal to buy former club director Peter Holmes a Court’s 37.5% stake worth $1.5 million.

Despite the speculation club chairman Nick Pappas has told The Sunday Telegraph there is “no truth to the rumour as far as the club is concerned”.

The club has had its fair share of financial woes, posting a $6.9 million loss in the first 2 years of Holmes a Court and Russell Crowe’s ownership in 2006, and now facing the 2014 season without a leagues club after it was placed into liquidation.

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