Outbid by Russell Crowe 20 years ago, a hotel mogul is again interested in the Rabbitohs

A hotel mogul outbid by Russell Crowe two decades ago says he would be interested in having another crack at buying into the South Sydney Rabbitohs if the club is again on the market.

Crowe and businessman Peter Holmes à 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 à 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 à 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 à 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.

Crowe was contacted for comment. In January, Crowe told AAP that rumours of him wanting out of Souths were off the mark.

“Just tell them all it’s bulls, and advise them to enjoy the summer sun,” Crowe said at the time.

Schwartz has previously expressed an interest in assisting rugby league ventures. As the owner of the Fairmont Resort, the training base of the NSW State of Origin team, he invested hundreds of thousands of dollars into providing state-of-the-art gym facilities and partnered with Blue Mountains Grammar School to improve their training ground.

Schwartz had previously offered to assist Newcastle’s bid to host the 2027 rugby union World Cup by pitching his accommodation – including the Novotel and Rydges – and training facilities to visiting teams. He owns 15 hotels with more than 4000 rooms, including Rydges World Square, Rydges Central Sydney, Hotel Ibis World Square, Hotel Ibis King Street Wharf, Mercure Sydney and the Sofitel Sydney in Darling Harbour.

Listed by The Australian as among Australia’s 250 richest people, Schwartz also owns Sydney Brewery and Blue Sky Airlines. It was reported earlier this year that he was fighting a suspension that has prohibited him from practising medicine for more than four years.

Crowe was hands-on in his early years of Rabbitohs ownership. He outfitted the players in Armani suits, commissioned the Book of Feuds, banned cheerleaders, delivered personal pitches to potential recruits and hosted the team at his Nana Glen property. However, the 61-year-old has been less visible in recent years.

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