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secures their financial future
The Rabbitohs have today secured their long term financial future by signing a funding deal with South Sydney Juniors. The deal, which is reportedly a seven figure commitment, extends over the next two seasons, and will provide the club with new found financial security.
The agreement is reportedly not associated with negotiations involving businessman Peter Holmes a Court and actor Russell Crowe who hoped that a more permanent arrangement could be made.
Souths officials? expect the extra funding will ensure the club can better compete with other NRL teams, especially in regards to using up their allocated salary cap.
Souths Juniors Keith McCraw also hinted that the deal may expend beyond the initial two year agreement. McCraw explained at the announcement, ?We would like to have committed ourselves for a longer term but the poker machine tax still hangs over our heads?.
Since re-entering the NRL, Souths have had significant difficulties competing financially with other teams that are supported by profitable Leagues clubs.