Souths board approves privatisation

Peter Holmes s Court's bid to privatise the South Sydney Rabbitohs has moved a step closer after his joint proposal with Hollywood star Russell Crowe was given the green light by the NRL club's board.

The board's approval now means Souths members will have the chance to vote on the proposal, which would see Holmes a Court and Crowe pay $3 million for 75 per cent of the football club. The board voted 6-3 in favour of the deal tonight, with the members to have their say on March 19 when an extraordinary general meeting will be held.