KEY POINTS:
The Souths revolution led by Russell Crowe and Peter Holmes a Court was supposed to result in an ending as happy as most of the films in which Crowe appears.
The pair paid $3 million for a 75 per cent stake in the club in 2006 but with
debts in excess of $4 million in 2007 and a budget for a $2 million shortfall this year the club is in serious trouble.
It is only seven years since the Rabbitohs won back the right to play in the NRL after a bitter court battle but their future is uncertain.
In some ways, they are better off than many of their Sydney counterparts.
When Crowe and Holmes a Court bought the club, they did it on the ticket of refusing to rely on gaming machine money and trying to build greater security. It does mean, however, that funding is difficult to come by, especially as an expensively-assembled Rabbitohs side are propping up the bottom of the table and favourites for their fourth wooden spoon in six years.
"I can't guarantee Souths will survive," Holmes a Court said. "There are no guarantees. People looking for guarantees need to get behind the club."
Last week the club went back to the future when Holmes a Court stepped aside as executive chairman amid speculation of a fallout with Crowe. He was replaced by Nicholas Pappas (chairman) and Shane Richardson (chief executive), the two men who yielded control to Holmes a Court and Crowe in 2006.
Former Souths boss George Piggins has also resurfaced, saying he wants to buy back the club for the $3 million he received from the high-profile duo. He described the latest changes at boardroom level as "like rearranging the deck chairs on the Titanic".
The Rabbitohs are viewed as one club which could relocate to the Central Coast because they are seen to be losing their identity. They no longer play at Redfern, instead committing to a 10-year deal to play home games at ANZ Stadium, and have already played once this season at Bluetongue Stadium and intend on taking two games to Perth every year from 2009.
The structure of Souths, however, means that while Pappas retains a 25 per cent share in the club, Crowe and Holmes a Court can't relocate the team, or change the name, colours or logo without the approval of members.