There are private investors and then there are private investors. In South Sydney's case, the fact that theirs are a multibillionaire and one of the most successful actors in the world makes them not only a glamour club but one with other obvious benefits.

That was rammed home on Sunday when it was announced James Packer and Russell Crowe had waived $7 million in loans to the Rabbitohs, leaving the NRL club to declare it was in the healthiest position financially it has ever been in.

James Packer, left, and Rabbitohs co-owner Russell Crowe watch Souths play. Credit:Getty Images

That sort of cash is, of course, small change for gaming mogul Packer, who bought Peter Holmes a Court's 37.5 per cent share in Souths in 2014, but having it wiped from the balance sheet is a significant development for the club.