Logo of Phnom Penh Post newspaper Phnom Penh Post - Technology Billionaire takes stake in Australia rugby club



Technology Billionaire takes stake in Australia rugby club

Content image - Phnom Penh Post
Tech billionaire Mike Cannon-Brookes has taken a stake in South Sydney Rabbitohs. AFP

Technology Billionaire takes stake in Australia rugby club

Tech billionaire Mike Cannon-Brookes has taken a 25 per cent stake in Australian rugby league side South Sydney, joining Hollywood luminary Russell Crowe and casino titan James Packer as co-owners, the club said on Monday.

The Australian co-founder of global software giant Atlassian said he was “excited and humbled” to be involved with the Rabbitohs, who were beaten in the National Rugby League grand final last month.

“The South Sydney Rabbitohs are special,” said Cannon-Brookes.

“Not only are we the oldest, loudest and proudest – we are an organisation people truly, deeply care about.

“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,” he added.

Cannon-Brookes co-founded Atlassian in 2001 with Scott Farquhar and it has since become one of the world’s biggest collaborative software firms, making the pair among Australia’s richest people.

Last year, he took a minority stake in NBA franchise Utah Jazz.

“This is a very strong move for the club,” said “Gladiator” star Crowe, who bought into the Rabbitohs in 2006.

“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.”

The trio will own 75 per cent of the side, with the rest being held by members.

Cannon-Brookes acquired his stake from Crowe and Packer.

MOST VIEWED

  • NY sisters inspired by Khmer heritage

    Growing up in Brooklyn, New York, Cambodian-American sisters Edo and Eyen Chorm have always felt a deep affinity for their Cambodian heritage and roots. When the pair launched their own EdoEyen namesake jewellery brand in June, 2020, they leaned heavily into designs inspired by ancient Khmer

  • Schools drawn into Manet degree row

    Prime Minister Hun Sen stepped into the Hun Manet-Sam Rainsy war of words over the validity of Manet’s degree from the US Military Academy at West Point, set off by Rainsy’s claims that Manet had received a “second-class degree” or “honorary degree”. Hun

  • Cambodia records first Omicron community case

    The Ministry of Health on January 9 reported 30 new Covid-19 cases, 29 of which were imported and all were confirmed to be the Omicron variant. The ministry also reported 11 recoveries and no new deaths. Earlier on January 9, the ministry also announced that it had detected the Kingdom's

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • PM eyes Myanmar peace troika

    Prime Minister Hun Sen has suggested that ASEAN member states establish a tripartite committee or diplomatic troika consisting of representatives from Cambodia, Brunei and Indonesia that would be tasked with mediating a ceasefire in Myanmar. The premier also requested that Nippon Foundation chairman Yohei Sasakawa

  • NagaWorld protest part of ‘conspiracy’

    The Phnom Penh Municipal Court and police held a joint-press conference on January 4 to clarify details concerning the arrest of nine former employees of the integrated resort NagaWorld and the charges brought against them, saying that the authorities had clear grounds for taking legal action.