Peter V’Landys expressed today that he does not want the NRL to own the Western Bears franchise, preferring instead a member-based ownership model. Nick Pappas, part of the NRL committee that evaluates potential franchises, may see the Western Bears proposal follow a similar structure to South Sydney’s. The Souths model includes three primary shareholders (Russell Crowe, James Packer, and Mike Cannon-Brookes), each holding a 25% stake, with the remaining 25% owned by club members (member co). The club’s constitution grants this member co. substantial authority, ensuring that Crowe, Packer, and Cannon-Brookes cannot alter the club’s name, logo, colours, or relocate Souths from Sydney. The club’s valuation stands around $50 million.
Following this model, the Western/Perth Bears could involve four or five key investors contributing between $5 million and $8 million each, potentially including three investors from WA and one or two from NS Bears, like Jim Jefferies. As owners/members from both coasts, they could ensure the club’s name, logo, colours, and home location in Perth remain unchanged. This would safeguard the Bears brand and guarantee a permanent team in WA. The club’s board could include eight members, with two from the member co., one representing North Sydney and one from Perth to address member concerns. The NRL may seek initial involvement in board selection, along with the CEO and coach, to support the franchise’s success. This approach aims to balance fans’ interests across regions. What are your thoughts on adopting the Souths model?