Souths Club stoush continues but things are looking up for the Rabbitohs

June ended with Piggins putting the Leagues Club into administration after a challenge supported by Peter Holmes threatened his control of the board. The Football Club then purchased the Leagues Club debt of $3 million, which was owed to the Perpetual Trustee Company.

The Football Club, by purchasing the debt, acquired a greater say in what would happen to the Leagues Club while it was in administration. However, within days, Piggins had paid off a longstanding Leagues Club debt to the Football Club and was claiming to be the principal secured creditor.

In another twist, Piggins supporter Jerry Schwartz made a payment to the Football Club and acquired the Leagues Club’s debt of $3.01 million that the Football Club had bought only a week earlier. By doing so, Schwartz became the principal secured creditor of the Leagues Club.

Administrator John Lord, at a meeting of Leagues Club Members, addressed concerns about the future of South Sydney Leagues Club. He declared that there would be “no sale of assets, such as property, apartments, poker machines or the strata of the building, without a full vote of Members.”

Holmes a Court said, who last month unveiled a plan to renovate and relaunch the Leagues Club by 2008, said, “This gives us enormous confidence that sensible proposals will now be considered by the Administrator and put to the vote of Leagues Club Members.

We now know that Members of the Leagues Club will have an opportunity to vote on a proposal that keeps their assets in their hands. Members of both Clubs need not be concerned by rumours that Mr Jerry Schwartz has been able to buy the Leagues Club building. Members should draw comfort that John Lord has guaranteed them a vote.”

In other South Sydney news, Bulldogs prop Roy Asotasi signed to a five-year deal. Parramatta halfback Jeremy Smith will also join the club, although current premier league halfback Joey Williams has been resigned.

The South Sydney Herald would like to thank try-scoring machine Nathan Merritt for being a bright light in an otherwise dark season. Nathan is two tries away from being the top try scorer in the NRL, and was born and raised in Redfern. The South Sydney Herald can’t wait to see you stepping the McDougall brothers next season behind our new forward pack.

[South Sydney Herald August 2006]