Atlassian co-founder Mike Cannon-Brookes, an Australian tech mogul worth an estimated $27 billion, has become the latest high-profile owner of the South Sydney Rabbitohs.
Joining actor Russell Crowe and businessman James Packer, Cannon-Brookes purchased a one-third share of Blackcourt League Investments, which has owned 75 percent of the club since a restructuring in 2006.
As a result, Crowe and Packer have each reduced their stake to 25 percent through Blackcourt with the South Sydney Members Rugby League Football Club owning the remaining quarter of the Rabbitohs.
Cannon-Brookes, who became the first Australian minority owner of an NBA team when he acquired a stake in the Utah Jazz last year, is a renowned philanthropist and climate change advocate.
The co-chief executive of Atlassian, a software company, Cannon-Brookes is also a rusted-on South Sydney supporter.
“I’m excited and humbled to be a part of this iconic club. The South Sydney Rabbitohs are special. Not only are we the oldest, loudest and proudest – we are an organisation people truly, deeply care about,” the 41-year-old said in a statement.
“I’m looking forward to partnering with Russell and James and bringing what I can to the table to help the club grow to even greater heights.”
Crowe and Cannon-Brookes have formed a friendship that began with their shared passion for climate issues during Australia’s horror 2019-20 bushfire season.
“I’m sure it hasn’t gone unnoticed to South Sydney Members and supporters that Mike wears a white Rabbitohs hat for special occasions,” Crowe said.
“This is a very strong move for the club.
“It connects us to the front edge of emerging technologies and business and underlines the importance of our efforts in the community.
“Mike understands the resonance of sport in Australia, and James and I welcome his input going forward in keeping South Sydney ahead of the curve, and a game leading organisation, on and off the field.”
Packer welcomed Cannon-Brookes aboard and said the Rabbitohs are in a strong position on and off the field following their grand final appearance against the Panthers.
“Souths have had an outstanding year as a football club, with an even brighter future ahead,” Packer said.
“I am really pleased that Mike is joining us, because I know how committed he is to the community. He will be a big asset and supporter of South Cares and all the important work they do.
“I look forward to working with Mike, Russell, the Board and Blake’s (CEO Blake Solly) team to write the next chapter of Rabbitoh success.”
Souths chairman Nick Pappas added: “We welcome Mike Cannon-Brookes to the Rabbitohs with his investment in Blackcourt.
“Mike is world-renowned for his business acumen and his philanthropy, both of which will provide great opportunity for the Rabbitohs.
“This is the big end of town we spoke about when our original investors first made their contributions in this form in 2006.
“Couple this with the passion and unwavering support of our 30,000-plus members, it’s there for all to see that we are in great hands for the long term.”
Glory Bound
Roar Rookie
Nah, not the Broncos, LP. Not in their first year adjusting to Adam Reynolds and with them trying to introduce someone knew into the halves to partner Reynolds. The Broncos still don't have a lot of experience either apart from Adam Reynolds and Kurt Capewell who was a on one until a year or two ago and he hasn't even played 100 games in the NRL yet (96). The same goes for the Bulldogs. I don't get why everyone is hyping them up as if they will be genuine contenders. The Dogs won't get Kikau or Mahoney (IF they sign him) until 2023. They don't have a decent dummy half, they have a semi-effective FB and they are confused about who to play in the halves. They will probably play Matt Burton at 5/8 and second receiver but he has shown at the Panthers he is far more effective in the centres. The few games he played in the halves for the Panthers he choked and they struggled. The Dogs keep trying to bang a square peg into a round hole forcing Jake Averillo to play in the halves when Bailey Biondi-Odo would be a better option but they insist on throwing him into hooker out of raw necessity. Their outside backs may won't make much of an impact if their forwards can't give the Dogs halves a platform to attack from. Vaughan is overrated, Jackson is past it, Hetherington, Seumanufagai, Stimson, Waddell and King are park footballers. I'll give Doorey the benefit of the doubt as he is only 21 and has played 18 NRL games. Faitala-Mariner is a decent player who has forgotten how to play being thrown in the deep end with a substandard forward pack. Thompson can't handle the speed or skill of the NRL and TPJ is an overhyped, ill-disciplined, injury prone player who only turns up to play 1 game in 6. I don't see the Dogs outside backs having much chance to impress off of the back of that forward pack. Perhaps things will improve when Kikau gets there but as others have said he seems to have less of an impact with each passing year.
London Panther
Roar Rookie
I definitely wasn’t suggesting that they needed to replicate last year to be a decent job by the new coach; my point is that he hasn’t been left a better squad than the one the last boss inherited and so some slippage is expected. I agree with your pass mark. I think there are three sides that look very strong for the top 4, and it is probably the Rabbits and Eagles competing for the last spot (I actually think the Broncs will be there as well, and actually pip the past top 4 spot). So I think if the Rabbits finish 5-6 that is a decent result.
Glory Bound
Roar Rookie
That's like saying if someone replaced Ivan Cleary at the Panthers in 2022 a pass mark would be winning a premiership. In many respects JD has it harder than Seibold and Bennett. The Rabbitohs have been a settled team for the last 4 years and Reynolds and Gagai were key members of a successful side that made the top 4 and the preliminary final 4 years in a row. Add to that 9 additional players leaving the club and only one signing of note, if that, in Anthony Milford over the off-season and Souths appear to have gone backwards. Souths are in the process of bringing 7 young players into their squad, Blake Taaffe, Lachlan Ilias, Peter Mamouzelos, Davvy Moale, Terrell Kalo Kalo, Zane Bijorac and Isaiah Tass. Also, Anthony Milford is coming into the side cold with only 13 games in the NRL for the 2021 season and only a handful of games in the second half of the season. That said, I think Souths will still have a top 4 finish but finishing in the top 6 would be a pass mark. Finishing 7th or 8th would be a C- grade. I think Lauchlan Ilias and Blake Taaffe are ready for first grade and will fit right in straight away. Milford may take a few weeks and could end up in a utility role. The remaining 5 young players I mentioned might still need some time to develop.
London Panther
Roar Rookie
What do you think a pass mark is with the squad he has?
Glory Bound
Roar Rookie
I think JD will do OK and he has a decent team to work with.
London Panther
Roar Rookie
We’ll have to see if Jason D leaves with similar grace after been forced out due to being the latest coach to be left to clean up the old mans scorched earth…
Glory Bound
Roar Rookie
The poor guy must be doing it tough. :laughing:
Glory Bound
Roar Rookie
And Snoop Dog and Oprah Winfrey! :stoked:
Kent Dorfman
Roar Rookie
so Russels the pauper of that lot? sucks to be him eh
Kent Dorfman
Roar Rookie
dont 4get Tom Cruise (Thomas Mapother IV to you and me), Pamela Anderson etc. Wonder if any of the "NO" voters have been to a game since or enjoyed 2014?
Glory Bound
Roar Rookie
The Panthers che@ting in 2021 has been thoroughly documented by the media. Have you forgotten already Short Memory? :laughing: As for the Roosters I have referred to a source who had it confirmed by at least 2 NRL coaches and people who have worked inside the Roosters organisation. Everyone in the game knows about it but due to Nick Politis's influence they all look the other way. Matty Johns did an exposé on the chooks being over the cap where he got an anonymous salary cap controller for another club to give him conservative estimates of the Roosters 2014 sides market value It was shown that even by conservative estimates the chooks were over the salary cap by about $4.5 million in 2013 - 2014. I have crunched the numbers for the Roosters 2018 and 2019 sides here on the ROAR too many times to remember. These were based on actual figures published in the media at the time of each respective signing. I posted links to those as well in the past. But everyone opted to take the blue pill.
Glory Bound
Roar Rookie
You must have missed the countless times I have posted links to this in the past under another profile? Or is it just a case of... Short Memory?
Short Memory
Roar Rookie
Of course. The only way Roosters or Panthers could win according to you is by "che@ting". Do you realise how tiresome it is to read this same unfounded blather over and over again? Please give it a rest and learn to be gracious in defeat. Lord knows you've had enough practice.
Short Memory
Roar Rookie
Evidence?
Glory Bound
Roar Rookie
"Maybe they can do the nudie run" Who? Packer, Crowe, George Piggins (poor old George)? I'd pay money just to see them keep their clothes on! :laughing:
Glory Bound
Roar Rookie
It isn't just their own personal fortunes but also their business contacts, their access to TPA sponsors and their experience in knowing how to run successful profitable businesses. If they ever double or triple the NRL salary cap the Rabbitohs will be in a better position that pretty much any other club to get dibs on NRL's elite players. IMHO, they are all paid more than enough already.
Glory Bound
Roar Rookie
He's been in bed with half of Hollywood mate. One more isn't going to make much difference. :laughing:
Glory Bound
Roar Rookie
Rusty had Chris Hemsworth, Jeff Goldblum and Natalie Portman in his owner's box for one of the Bunnies games. My daughter couldn't believe Souths had famous Hollywood "supporters". I told her "that's just how the Rabbitohs roll". :laughing:
Big Daddy
Roar Rookie
Maybe they can do the nudie run . Now that would be something . And poor old George, probably couldn't fit into an Armani suit and didn't like smoked salmon and champagne .
steveng
Roar Rookie
:laughing: :laughing: :laughing: and no more lattes, hot pies and all NRL stdiums will have solar panels and wind mills even on the goal posts etc etc