Souths worth 20 million ??

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robbiea

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Souths worth at least $20m: Morris
Thursday, March 16, 2006 - 6:34 PM



St George Illawarra's privatisation deal with a regional television network is proof South Sydney is worth at least $20 million, according to former Souths Juniors boss Henry Morris.

But the assertions were strenuously denied by Peter Holmes a Court, who along with Russell Crowe needs a 75 per cent share of the vote at an extraordinary general meeting on Sunday to secure their $3 million bid for the Rabbitohs.

WIN Corporation has announced it had purchased a quarter share in the Steelers Club for $6.5 million, which is struggling to pay back a loan of $8 million to its joint venture partner, the St George Leagues Club.

The financial boost, for which WIN will acquire 24 per cent of the joint venture, will see Wollongong maintain its quota of hosting half of the Dragons NRL matches at WIN Stadium each year and enable the Steelers Club to work towards financial viability.

Morris, who heads the anti-privatisation campaign, said the Dragons deal was further proof the Crowe-Holmes a Court bid for the Rabbitohs was too low.

"That $6.5 million shows we have been vindicated, I just can't believe it can be suggested 75 per cent of Souths could be sold for $3 million," Morris said
 

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