How James Packer saved BOTH clubs competing for premiership glory in Sunday's ...

How James Packer saved BOTH clubs competing for premiership glory in Sunday's ...
How James Packer saved BOTH clubs competing for premiership glory in Sunday's ...

Billionaire James Packer is a proud part-owner of the South Sydney Rabbitohs - but is also revered in Penrith after saving the Panthers from folding.

As a favour to close mate Phil Gould, the club's general manager at the time, the billionaire businessman handed over a $10 million loan in 2012.

The loan saw the club live to fight another day and develop into a modern day NRL premiership heavyweight.

Just under a decade ago, the Panthers were loaned $100 million from ING Bank, and when New Zealand corporate raider Torchlight called in 10 per cent of the debt to be paid immediately, it was Packer to the rescue.

Former Panthers chairman Don Feltis recalled being blown away by Packer's generosity.

Panthers trio Brian To'o, Jerome Luai and Stephen Crichton may never have graced the NRL if it wasn't for the financial intervention of James Packer in 2012

Panthers trio Brian To'o, Jerome Luai and Stephen Crichton may never have graced the NRL if it wasn't for the financial intervention of James Packer in 2012

Media mogul James Packer handed over a $10 million loan to Penrith as a favour to Phil Gould

Media mogul James Packer handed over a $10 million loan to Penrith as a favour to Phil Gould

Nathan Cleary's Penrith will look to go one better on Sunday after losing the 2020 NRL Grand Final

Nathan Cleary's Penrith will look to go one better on Sunday after losing the 2020 NRL Grand Final

'It was the first time I'd met him and he (Packer) said: ''Don, we'll give you the $10 million. That's no problem'',' Feltis told the Sydney Morning Herald.

'Just like that. There was no interest or anything. A few months later we sold Nepean Shores (a retirement village) for $11 million and paid Packer back.'

Gould called in the urgent favour from his media mogul friend, acutely aware the club was on the verge of extinction if he sat on his hands.

A selfless Packer said he agreed to the loan as 'Phil (Gould) is a great friend' and 'he told me the Panthers needed my support'.

Despite his financial intervention, Packer's loyalty isn't in doubt ahead of the NRL Grand Final this Sunday - he will cheering on the Rabbitohs, who are chasing their first premiership since 2014.

The Panthers last won a title in 2003, and 30 years ago in 1991 also hoisted the trophy after beating Canberra 19-12 at the Sydney Football Stadium.

And in a bombshell development on Tuesday morning, the NRL decider could be shifted to Townsville this Sunday following six new Covid cases overnight in Brisbane.

Two of the new cases were acquired overseas, and one is an international traveller who tested positive after they came out of hotel quarantine.

But the remaining three - a husband and wife and a truck driver - are

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