DIEHARD
24-05-08, 07:24 AM
Holmes a Court opts for early exit
By Josh Massoud
May 24, 2008 12:00am
PETER Holmes a Court will retire as Rabbitohs executive chairman next week.
The millionaire businessman last week said he would stand down "towards the end of the season", but his exit has been fast-tracked due to recent upheavals on Souths' board.
Rabbitohs co-owner Russell Crowe will officially appoint his business partner's replacement next week - with celebrity accountant Anthony Bell tipped to take up the role.
Insiders at Redfern also revealed last night that Souths were on the verge of announcing a new CEO as well as a high-profile assistant for embattled coach Jason Taylor.
The developments came on the same day Holmes a Court declared he could not guarantee the club's survival unless membership increased to plug a massive shortfall.
Despite their 2007 fairytale, Crowe and Holmes a Court lost $4 million last year. They are bracing for a similar blow this year, which has brought poor results and a host of administrative redundancies.
Holmes a Court would not comment on the timing of his departure last night, other than to say: "It will happen when Russell is ready to appoint a new chairman."
It is not yet known who Crowe will select. Under the privatised club's new constitution, he is entitled to appoint two board members - currently Bell and his cousin and New Zealand cricket great Martin Crowe.
Bell, however, is favoured for the role. He is understood to have provided the Rabbitohs with free financial advice for the past six months and his background is better suited to heading up the board. He and Crowe are also good friends who regularly socialise together when the movie star returns home.
Although he will stand down as executive chairman, Holmes a Court will continue as a director of the football club. He is still entitled to appoint another director to the eight-man board.
The Rabbitohs conducted an extensive search for a new CEO when previous boss Shane Richardson moved aside to become football operations director late last year. But no CEO was appointed, leaving Holmes a Court to effectively carry out the role despite his title saying otherwise.
He declined to comment whether a CEO or new assistant coach would be appointed next week.
Rabbitohs officials last night moved to assure fans they were doing all they could to ensure the club's survival in the wake of Holmes a Court's warning.
By Josh Massoud
May 24, 2008 12:00am
PETER Holmes a Court will retire as Rabbitohs executive chairman next week.
The millionaire businessman last week said he would stand down "towards the end of the season", but his exit has been fast-tracked due to recent upheavals on Souths' board.
Rabbitohs co-owner Russell Crowe will officially appoint his business partner's replacement next week - with celebrity accountant Anthony Bell tipped to take up the role.
Insiders at Redfern also revealed last night that Souths were on the verge of announcing a new CEO as well as a high-profile assistant for embattled coach Jason Taylor.
The developments came on the same day Holmes a Court declared he could not guarantee the club's survival unless membership increased to plug a massive shortfall.
Despite their 2007 fairytale, Crowe and Holmes a Court lost $4 million last year. They are bracing for a similar blow this year, which has brought poor results and a host of administrative redundancies.
Holmes a Court would not comment on the timing of his departure last night, other than to say: "It will happen when Russell is ready to appoint a new chairman."
It is not yet known who Crowe will select. Under the privatised club's new constitution, he is entitled to appoint two board members - currently Bell and his cousin and New Zealand cricket great Martin Crowe.
Bell, however, is favoured for the role. He is understood to have provided the Rabbitohs with free financial advice for the past six months and his background is better suited to heading up the board. He and Crowe are also good friends who regularly socialise together when the movie star returns home.
Although he will stand down as executive chairman, Holmes a Court will continue as a director of the football club. He is still entitled to appoint another director to the eight-man board.
The Rabbitohs conducted an extensive search for a new CEO when previous boss Shane Richardson moved aside to become football operations director late last year. But no CEO was appointed, leaving Holmes a Court to effectively carry out the role despite his title saying otherwise.
He declined to comment whether a CEO or new assistant coach would be appointed next week.
Rabbitohs officials last night moved to assure fans they were doing all they could to ensure the club's survival in the wake of Holmes a Court's warning.