Rusty Cashes in - Rabbitohs pay out $1M to Crowe


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I couldn’t give a flying fuck, Rusty has done so much for us so whatever

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So, Crowe says the payment was pre-Covid but Rothfield slyly conflates the Covid situation to imply players lost income, members forwent their fees and Job Keeper kept the club afloat - yet Russell takes out a $million. How dishonest can a journalist be, especially when he has a distinct bias against the club.

And why no mention of the Roosters’ Politis whose company profited greatly from Job Keeper and will not hand any back?

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Expect Kent to jump on the train and milk this for all its worth…can see it now…Crowe wants out and Rabbitohs will slide etc…

Nice to see we are well run and have the ability to pay our way. Something Russell always wanted to happen.

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So we’re getting bagged for making a profit?

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Another media article to put our club down. What a blight on our game. Just as well major corporate companies don’t read into these bullshit articles otherwise there’ll be no sponsorships. The NRL should take a stance against the gutter journalism being dished out to the public. They should be doing everything to promote the game and lure in members not put potential customers off. It makes me wonder who owns the NRL.

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We make a progit if $3.2 mil and $2mil is paid out to owners ?

Something is not right here

Its important to build up our cash reserves to around $20 mil to plan for life post Rusty

We shouldn’t be moving money around like this.

As Member Co are also $25% owners did the get a $1 mil too ? Eg about $30 per member

The 1.2 million profit was after the payout to Crowe and Packer according to the article.

You make the same error as Rothfield. This payment was made pre-Covid and from accumulated cash reserves. The figure you quote of $1.2 million is the profit from the year since this payment was made.

So, what is not right here? Maybe the shop voucher all members are receiving - more than $30 - is the equivalent??

Let’s not add another conspiracy to the media pile-ons.

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That and the fact that Crowe hss probably ploughed many times that amount into the club over the years.
Oh and that 30 bucks wouldn’t even buy me a packet of Wini blues. I think I’ll forgo it lol.

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Who wrote this article? Drunkfield or CUeNT.They both hate us immensely. Never nothing negative about Uncle Nicks involvement with Rorters. :rage: :rage: :rage:

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If I am understanding this correctly, the millions of dollars that Rusty and Packer provided the club were converted to shares rather than becoming a debt burden for the club, well done all around. Due to our club being very well run, we have now purchased back $2M in shares from our majority owners. This is exactly how you run a business as the club now holds some $2M in shares which can be re-sold at a later time. One way that corporations build equity in their company is by using share buy backs as a means of raising the value of their company, we may have just done the same thing.

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This article is more gutter trash and shows how well we are being run .

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Wouldn’t this be a repayment by the club to 2 shareholders for some of the enormous amounts of money they invested in the past?
You’ll get your $30 back if you loaned it to the club in the past.

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As a member, I’m getting a $50 voucher ( spend on Merchandise store ) , so I’m well a head .
But best of all , I got rid of my Foxtel ( saving $100 / month ) and getting Kayo for $5/ month . So I’m paying very little of Rothfield and Kent salary.

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Crowe is firstly an actor in one of the worst affected industries on Earth by COVID, so what’s the issue if he takes some liquidity from his other assets?

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I would be happy if that is what happened

Rather than paying dividends

Nothing to see here. Good on you Rusty. Because of you I have ticked off the biggest piece in my bucket list- a premiership. As the poor North Sydney president once said in 1971 " You know I would die happy if we could just get one, some day you never know".

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So what happen is Nick Politis is a major shareholder called AP wagers. The got over $175mil in jobkeeper payments and paid their shareholders $65mil. Politis hot a massive chunk of the shareholders division sends. Harvey Norman did the same. Yet Toyota paid it back to the government.
I think AP Eggers is being investigated. Not sure but I think so.

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