SOUTH Sydney officials will hold a press conference on Monday to announce details of Russell Crowe's decision to sell his stake in the football club.
Crowe has advised senior Rabbitohs officials that next season - the eighth since he and Peter Holmes took a 75 per cent stake in the club - would be his last as a co-owner.
Rabbitohs chairman Nicholas Pappas and chief executive Shane Richardson will outline the process for the sale at an 11am press conference at South Sydney Leagues Club.
The decision follows the actor's recent split with wife Danielle Spencer.
Crowe advised Channel Nine reporter and Fairfax columnist Danny Weidler of the news on Sunday via a text message and email.
"From what I can understand, Russell is just trying to simplify his life. As you know, he has been through a lot recently in his personal life, and I would say that is ... a part of his reasoning" Weidler told Radio 2UE, owned by Fairfax Media.
According to Weidler, Crowe is confident that South Sydney are in good shape and he feels that his job is done.
"They are one of the sexiest clubs in rugby league. People like to play for South Sydney. They have got an image about them. That's due to Russell Crowe."
Crowe and Holmes a Court paid $3 million for their share of Souths in 2006 and it is estimated they have invested around $8 million since.
His departure follows the Rabbitohs' most succesful season in more than 20 years, with the Michael Maguire-coached team finishing in third place on the ladder and narrowly missed out on playing in the grand final after losing to the Canterbury Bulldogs in the preliminary final.
It was only the Rabbitohs' second appearance in the finals series since 1989.